Global Business Vocabulary

Edit Answers
123456789101112131415
Across
  1. 2. Determined by subtracting the value of a country’s imports from the value of it’s exports, one of two key economic indicators of a country’s effectiveness of international trade
  2. 4. Groups of countries that have joined together to allow goods and services to flow without restrictions across their borders. Examples are NAFTA and the EU.
  3. 7. The currency of the EU since 2002; No exchange rate difficulties between member countries.
  4. 9. Exists when a country can produce a product at a lower opportunity cost compared to another nation
  5. 11. When a country buys more products from other nations than it sells
  6. 13. An extreme kind of quota – these ban the import or export of certain goods to or from a specific country
  7. 14. Product a country brings in to sell, from or made in another country
  8. 15. Government payments given to producers to offset some of their costs of production, allows for lowering of price below imported goods and exporting goods at better prices
Down
  1. 1. Tax on an import to raise the price of a foreign-made good to make them less competitive. Also used to raise revenue for a government.
  2. 3. Selling exported goods below the price that producers would normally charge in their home markets (and even possibly below the cost of producing the goods)
  3. 5. Exists when a nation is the only source of a particular product or it can make more of a product using fewer resources than other countries
  4. 6. Limits on the quantity of a good that can be imported over a period of time. Usually used to protect specific industries (new ones or ones facing strong foreign competition)
  5. 8. Trade controls that protect domestic industries by reducing foreign competition (all countries do this to some extent) and help locally produced goods to compete more favorably with foreign goods
  6. 10. The difference over a period of time, between total flow of money coming into a country and the total flow going out. One of two key economic indicators of the effectiveness of a country’s international trade
  7. 12. When a country sells more products to other countries than it buys from them
  8. 13. Product a company sells to another country to be bought and used by the country that buys it