Category A
Which term describes a business that provides design, fabric, construction, and delivery services for a fashion product?
Full Package Production
What term refers to industries or economies changing over time to remain competitive?
Structural Adjustment
Which term refers to equal treatment achieved through trade agreements?
Parity
What is the name of a business that acts as an intermediary between foreign suppliers and domestic buyers?
Import Commission House
What do you call the practice of selling goods in foreign markets at lower prices than at home?
Dumping
What term describes corporations that operate in multiple countries and share technology and manufacturing?
Multinational Corporations
Which term refers to businesses that serve customers in more than one country?
International Retailing
What is the increase in a product’s worth due to work like sewing or assembly called?
What do you call businesses that buy goods from foreign suppliers to resell locally?
Import Merchants
What is the term for when a nation produces certain goods better than others due to unique resources?
Comparative Advantage
What term refers to the relationship between a country's exports and imports?
Balance of Trade
Which organization works to reduce tariffs and trade barriers among member countries?
World Trade Organization (WTO)
What is the term for rerouting goods through another country to get around trade quotas?
Transhipping
Which term refers to government-imposed restrictions on trade to protect domestic industries?
Protectionism
What happens when a country imports more than it exports?
Trade Deficit
Which agreement created a free trade zone among the U.S., Canada, and Mexico?
North American Free Trade Agreement (NAFTA)
What term describes a policy allowing goods to move freely across borders without restrictions?
What agency investigates imported products that may violate U.S. intellectual property rights?
International Trade Commission
Which term describes a major change in a market due to technology or consumer preferences?
Market Disruption
What happens when a country exports more than it imports?
Trade Surplus
Which term refers to the overall health of a country’s economy, including unemployment and inflation?
Economic Climate
What do you call an agreement where two companies combine skills or resources?
Joint Ventures
What is it called when a company grants another the right to use its brand and business model?
Franchising
What is the term for the systems like transportation and communication that support an economy?
Infrastructure
What term describes the percentage of imported goods in a country’s total consumption?
Import Penetration