GLOBBUS - Ch 3 Vocabulary

Exchange of goods and services among businesses in various countries

• International Trade
• Imports
• Exports
• Tariff

Items transported into a country from a foreign country

• International Trade
• Imports
• Exports
• Tariff

Items transported out of a country to a foreign country

• International Trade
• Imports
• Exports
• Tariff

Countries who rely heavily on exports

• Trade Dependency
• Imports
• Trade Deficit
• Tariff

Negative balance of trade where a countries imports exceed its exports

• Trade Dependency
• Imports
• Trade Deficit
• Tariff

Policy in which governments do not place restrictions on imports and exports

• Trade Dependency
• Free Trade
• Trade Deficit
• Tariff

Tax set on imported goods

• Trade Dependency
• Free Trade
• Trade Deficit
• Tariff

Specified area where raw Materials and finished goods may be landed, stored, displayed, assembled, reconfigured and re-exported into customs territory and foreign points free of customs duties

• Trade Dependency
• Tariff
• Trade Deficit
• Free Trade Zone

Global exchange agency which handles international trading

• Trade Dependency
• World Trade Organization
• Trade Deficit
• Free Trade Zone

Government based restrictions placed on international trade

• Trade Dependency
• World Trade Organization
• Trade Deficit
• Trade Barriers