intro to biz
the original purpose of the ________ was to help build infrastructure in developing countries and help relief the debt burden of these countries
World Bank
the _________ is defined as the difference in value of a country's exports and imports over a period of time
balance of trade
in 1914, the united states prohibited the importation of mexican can avacados... the ban of importing mexican avacados is an example of
embargo
the ________ is the value of one currency in terms of another
exchange rate
_____ are goods and services that are made in one country and sold to other countries.
Exports
Venezuela can grow and sell cut flowers for floral bouquets more easily and more cheaply than most other countries can produce the same flowers. When it comes to flowers, Venezuela has a(n):
comparative advantage
why do so many people fear trade and globalization
many fear trade and globalization will lead to massive job losses
Free trade...
permits people to buy and sell where they please
japan bans importation of rice to protect its domestic rice industry. This ban is an example of
protectionism
China imposes a 45 percent tax on the market value of all chickens that are imported from the U.S. into China. Another name for this type of tax is a(n):
tariff