Globalization

1. the value of a foreign nation's currency in terms of the home nation's currency
3. a limit or time schedule of a product or service
4. established to negotiate new trade agreements, and to resolve trade disputes (1995)
5. the goods a nation receives from other countries and nations
7. taxes on imported goods
8. refusal to trade with a country or nation
11. the ability of one person or nation to produce a good at an opportunity cost that is lower than that of another person
14. improves productivity from labor
16. trade throughout the whole world
19. a nation's goods or services produced in a given year
21. an organization that drastically increased the price of oil in the 1970's
22. the ability of one person or nation to produce a particular good at a lower cost than another person or nation
24. the result of a country importing more than it exports
25. the goods a nation distributes to other countries and nations
26. association of south east Asian nations

2. trade balance among different nations is disproportionate
4. raises money on the financial markets and accepts contributions from the wealthier member nations
6. finding someone else to do business that is not in that persons area of expertise
9. trade balance among different nations is close to equal
10. eliminates all tariffs an other trade barriers between Canada, Mexico, and the U.S. by 2009
12. developed to stabilize international exchange rates
13. a regional trade organization made up of fifteen European nations
15. policies regarding foreigners in the U.S.
17. the products or goods people consume or use
18. similar products or a substitue of a specific good or product
20. the result of a nation exporting more than it imports
23. punishments from one country to another because it threatens trade