The Global Economy

2. A sense of national consciousness that boosts the culture and interests of one country over
4. An international organization, founded in 1945, that promotes trade,
6. A lowering of the value of a nation’s currency relative to other currencies.
8. The practice of selling domestically produced goods to buyers in another country
10. The legal process whereby a firm agrees to allow another firm to use a manufacturing process,
11. A 1993 agreement creating a free-trade zone including Canada, Mexico, and the United States
12. such as tariffs and quotas.
13. A form of international trade in which part or all of the payment for goods or services is in the
16. An organization established by the Uruguay Round in 1994 to oversee
17. of all other countries.
18. short-term loans to member nations, and acts as a lender of last resort for troubled nations
19. The practice of charging a lower price for a product in foreign markets than in the firm’s home
20. Goods and services that are bought from other countries.
22. patent, trade secret, or other proprietary knowledge in exchange for the payment of a royalty.

1. A tax imposed on imported goods
3. The policy of protecting home industries from outside competition by establishing artificial
4. trade, reduce trade barriers, and resolve disputes among member nations.
5. Trade agreement between Peru, Brazil, Argentina, Uruguay, and Paraguay
7. The basic institutions and public facilities upon which an economy’s development depends.
9. Sending work functions to another country, resulting in domestic workers losing their jobs.
14. Goods and services produced in one country and sold to other countries.
15. A total ban on imports or exports of a product
21. of other goods and services