International Trade
When you produce more than another country.
Absolute Advantage
When a country's currency stays the same. It is controlled by the government.
Fixed exchange rate
Which business organization has the largest number of producers? They receive all of the profits.
Sole Proprietorship
What is the world's largest stock exchange?
NYSE
The most competitive market structure. Where prices are determined by supply and demand.
Perfect Competition
When you produce at a lower opportunity cost than another country.
Comparative Advantage
When a country's varies from day to day. The value of the currency is determined by supply and demand.
Flexible exchange rate
When a company is personally responsible for all of the debts of that business.
Unlimited liability
What is the purpose of selling stock in a corporation.
To raise money
The market structure that is known for lots of advertising such as restaurants.
Monopolistic competition
When a country taxes products coming into the country.
Tariff
When imports are greater than exports.
Trade deficit
A business organization that is considered a legal entity "artificial person".
Corporation
Dividend
A market structure with only a few sellers that have high prices and barriers of entry.
Oligopoly
When a country refuses to trade with another country.
Embargo
When the currency goes up in value.
Appreciates
When the business owners investment is protected.
Limited liability
A loan from a corporation. It is an I.O.U.
Bond
Market structure with only one seller of a product. Prices are set high and quality is low. They are illegal today.
Pure Monopoly
The new trade agreement between the United States, Mexico and Canada.
USMCA
The difference between imports and exports.
The balance of trade
Double taxation
The type of stock that has voting rights and a share of future profits.
Common stock
Type of monopoly when there is a patent on a product which allows them to be the only seller for 10 years.
Technological monopoly