Trade Actions
Selling goods or services to buyers in another country.
What is export?
Any business activity involving two or more countries.
What is international business?
Changing dollars into euros (or any currency) to pay for international deals.
What is currency exchange?
A special trade deal giving a country the lowest tariffs offered to any trading partner.
What is most-favored nation (MFN) status?
When one country produces something more efficiently/cheaper than others.
What is comparative advantage?
Buying goods or services from sellers in another country.
What is import?
A huge company with operations, factories, or sales in many nations (MNC or MNE)
what is Multinational?
The worldwide market where traders buy/sell different currencies 24/7.
What is foreign exchange (forex) market?
A group of countries that reduce or eliminate tariffs among themselves (like EU or NAFTA/USMCA).
What is trade bloc?
Example: Saudi Arabia sells oil cheaply because it has huge, easy-to-access reserves.
What is comparative advantage?
The overall exchange of goods/services across national borders.
What is Trade?
The process making the world more connected through trade, tech, and culture.
What is Globalization?
A country's record of all incoming and outgoing money from trade, investments, etc.
What is balance of payments?
Variations in language, customs, or etiquette that can complicate international deals.
What is cultural differences?
Example: Japan sends cars to the U.S. while the U.S. sends soybeans to Japa
what is Comparative Advantage?
A government tax added to imported products to make them more expensive.
What is Tariff?
A strategy where a country grows its economy by heavily focusing on selling abroad.
What is export led growth?
The full network of suppliers, manufacturers, and transporters moving a product globally.
What is supply chain?
The danger that war, new laws, or government changes in a foreign country hurt business.
What is political risk?
A barrier that makes importing harder/expensive.
What is Tariff?
Exchanging goods or services directly between countries without using cash.
What is Countertrade?
When a company invests by building or buying facilities in a foreign country.
What is foreign direct investment?
A sales opportunity or group of customers located outside the home country.
What is foreign market?
The chance a foreign government might seize or nationalize a company's assets.
What is political risk?
Example: South Korea's rapid growth came from exporting electronics and cars worldwide.
What is export led growth?