International Trade

2. union An organization that opened trade among 34 nations of North and South America.
5. deficit When a nation imports more goods and services than it exports.
6. Limits on the quantity of imports.
8. Taxes on imports.
9. An official ban of trade between countries.
11. Firms that do business and have offices or factories in many countries
13. nations Nations with little industrial development and relatively low standards of living.
17. trade, the exchange of goods and services between countries.
18. advantage The ability of a country to produce at a lower opportunity - cost than another country.
20. nation Nations with relatively high standards of living.
21. Goods sold to other countries.
22. agreement A system in favor of increasing free trade.

1. The use of trade barriers to protect domestic industries from foreign competition.
3. aid Reasons for providing ___ include humanitarianism, economics, politics, and national security.
4. advantage The ability of a country to produce more efficiently than another country.
7. barrier Restriction of a foreign product or service from freely entering a nation’s territory.
10. integration The interdependency among the countries of the world especially within financial markets and
12. Agency provides most of the U.S. aid to foreign countries.
14. An organization that created a free trade zone linking the U.S., Canada, and Mexico.
15. Trade Organization An organization that had the CAFTA-DR U.S. reach a free trade agreement with five nations of Central America.
16. war When countries set restrictions on imports causing trading partners to respond in the same way
19. Goods bought from other countries for domestic use.