Across
- 1. When a country specializes in producing a product at which it is relatively more efficient.
- 7. Body of laws related to the exchange of goods and services for international trade.
- 8. Difference between a nation’s exports and its imports.
- 9. Cost to convert one currency into another.
- 10. Goods and services that are produced within a country’s borders and sold in another country.
- 11. All the business activity involved in making, buying, and selling product within a nation’s
- 13. Governmental tax on imported goods.
- 15. Limit on the amount of a product imported into a country during a specific period of time.
- 17. Goods, services, and capital that are brought into a country from outside its borders.
- 18. Group of countries that join together to trade as if they are a single country.
- 20. Currency with an exchange rate that is set by the market forces of supply and demand in the
- 21. Buying and selling of goods and services across national borders. Also known as world trade and international business.
Down
- 2. Any government action taken to control or limit the amount of imports.
- 3. Shared beliefs, customs, practices, and social behavior of a particular group or nation.
- 4. Embargo that affects only certain goods.
- 5. exchange market.
- 6. Total amount of money that comes into a country, minus the total amount of money that goes out for a specific period of time.
- 12. Connections made among nations when economies freely move goods, labor, and money across borders.
- 14. When a country can produce goods more efficiently and at a lower cost than another country.
- 16. Document listing the conditions and terms for importing and exporting products between
- 19. Government order that prohibits trade with a foreign country.