Unit 5 and 6 Study Guide Part 1

Trade Agreements:

• Forex dealers

• Establish rules about trade

• Investment Management firms

• Reduced Trade Barriers

WTO

• European Union (also includes common currency)

• World Trade Organization: 153 organizations

• U.S. Canada and Mexico

USMCA

• U.S. Canada and Mexico

• World Trade Organization: 153

• European Union (also includes common currency

EU

• European Union (also includes common currency)

• World Trade Organization: 153 organizations

• U.S. Canada and Mexico

Global Trade & Currency Exchange - Foreign Exchange:

• Digital market where money is changed

• Changing money from one country to another; necessary for international trade.

Exchange Market

• Changing money from one country to another; necessary for international trade.

• Digital market where money is changed

Forex buyers & sellers include:

• Forex dealers

• shift in goods being produced

• commercial companies

• Improved communication

• investment management

Free trade/Voluntary trade:

• The unrestricted movement of goods/services they are most skilled at producing.

• When things that make the Economy function come from different countries

Globalization

• When things that make the Economy function come from different countries

• The unrestricted movement of goods/services they are most skilled at producing.

The biggest reasons why globalization increased:

• Shift in goods being produced

• Forex dealers

• Improved Communication

• commercial companies

• Advances in Transportation