Across
- 2. of trade the difference between the value of the country's imports or exports for a given period
- 4. function of international trade whereby goods produced in one country are shipped to another country for future sale or trade
- 6. of living the level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or a certain geographic area
- 9. economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations
- 11. medium exchange for goods and services
- 13. rates the value a country's currency vs that of another country or economic growth
- 14. Monetary Fund (IMF) an organization working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment
- 15. Trade Organization (WTO) deals with the rules of trade between nations. Its goal is to ensure that trade flows as smoothly and predictably as possible
- 16. a tax imposed by a government on goods and services imported from other countries that serves to increase the price and make imports less desirable
Down
- 1. gradual decrease in the economic value of the capital stock of a firm, nation or entity
- 3. advantage an economy's ability to produce goods and services at a lower opportunity cost than that of the trade partners
- 5. surplus a situation in which a country sells more to other countries than it buys from other countries
- 7. increase of the value of an asset over time
- 8. an entity focuses on the production of a limited scope of goods to gain a greater degree of efficiency
- 10. Union (EU) international organization comprising 28 European countries and governing common economic, social, and security policies
- 12. advantage ability of a party to produce a greater quantity of a good, product or service than competitors
- 14. purchases of a goods or services by a domestic economy from a foreign economy