Chapter 4 Vocab

2. a business enterprise that a domestic company and a foreign company undertake together
5. goods and services purchased from other countries
9. the commercial exchange between nations that is conducted on free market principles without any regulations
11. a company's use of an existing product or promotion from which changes are made
12. a tax on imports
14. involves letting another company or licensee use a trademark, patent, special formula, company name, or some other intellectual property for a fee or royalty
17. the exchange of goods and services among nations
18. a government's establishment of economic policies that systematically restrict imports in order to protect domestic industries
20. the difference in value between exports and imports
21. limits either the quanity or the monetary value of a product that may be imported

1. the establishment of a business in a foreign country
3. an international trade agreement among the US, Canada, and Mexico
4. involves hiring a foreign manufacturer to make products according to a company's specifications
6. involves creating specially designed products or promotions for certain countries or regions
7. a global coalition of nations that make the rules governing international trade
8. Europe's trading bloc
10. a total ban on specific goods coming into and leaving a country
13. large corporations that have operations in several countries
15. goods and services sold to other countries
16. midsize or smaller companies that have operations in foreign countries
19. complete standardization