Acronyms
This is the Irish forum for Foreign Direct Investment in Ireland
What is IDA?
A group of participating countries that allow free trade between them.
What is a Trading Bloc?
The removal of legal barriers by government to allow firms to enter an industry or market
Define Deregulation
These are goods/services brought from other countries
What is an Import?
Donald Trump imposed a 25% X on steel imports
What is an example of a Tariff?
This is an organisation made up of member states
What is the EU?
A group of countries that agree that member countries can trade freely with reduced or no trade barriers imposed on each other.
What is a Free Trade Area?
This is an economy that engages in International Trade through importing and exporting.
What is an Open Economy?
This is the buying or selling of different products and services between different countries
What is International Trade?
This is a grant from national governments to domestic firms to help them with their day-day operating costs.
What is a Subsidy?
This is an agreement between North America, Canada and Mexico
What is the USMCA?
Member countries agree to trade freely and impose common tariffs on countries that are outside the union.
What is a Customs Union?
Countries that depend on each other
What do we mean by Interdependent?
Goods or services that are sold to other countries
What is an Export?
A limit on the number of units of a certain good that can be imported into a country
What is a Quota?
This is a measure of a country's openness devoted the imports and exports
What is GDP?
This is a Physical Asset
What is a Tangible Good?
Free Trade Area, Customs Union and Common/ Single Market
What are the 3 types of Trading Blocs
Visible Exports - Visible Imports to find....
What is the formula for Balance of Trade?
This is an outright ban on trade
What is an Embargo?
This is a company that operates in its home country, as well as in other countries across the world.
What is an MNC?
This is when domestic producers start to make and sell a good that is currently imported into the country.
What is Import Substitution?
This is a company that operates in many different countries
What is a Transnational Company?
When Exports are greater than Imports
What is a Surplus?
X results in more shipping costs if goods were held in Irish ports for weeks
What is the Impact of Administrative Regulations as a trade barrier?