Front

The exchange of goods and services by sale or barter driven by the need for resources.

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Trade

Front

Sending goods to another country to sell.

Back

export

Front

Bringing goods in from another country to sell.

Back

import

Front

A policy in which a nation does not try to limit imports or exports by enacting tariffs (taxes on imports) or subsidies (money to assist an industry so prices can remain low).

Back

Free Trade

Front

A large company such as McDonalds that has operations in more than one country.

Back

Multinational Corporation

Front

The development of a worldwide economy where resources flow fairly freely across borders.

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Globalization

Front

What are some negatives of globalization?

Back

Workers are exploited in sweatshops, Pollution and deforestation, Low wages for factory workers in Asia and Africa.

Front

A three-country trade agreement negotiated by the governments of Canada, Mexico, and the United States that took effect in 1989.

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NAFTA

Front

Who typically ends up paying tariffs?

Back

Importers and/or consumers

Front

When the economy of two countries depend on each other, it's called:

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economic interdependence