Flashcard Set Preview
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| 1 |
domestic business
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making and buying goods from your country
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| 2 |
international business
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doing trade with other business
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| 3 |
absalute advantage
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when one country can do something better than anoth country
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| 4 |
comparitive advantages
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when a country choses to produce one thing over another
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| 5 |
imports
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items bought from other countrys
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| 6 |
exports
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selling to other countrys
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| 7 |
foriegn debt
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when a country buys your debt and becomes your creditor
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| 8 |
balence of trade
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diference between imports and exports
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| 9 |
trade surplus
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when you export more than you import
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| 10 |
trade deficite
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import more than you export
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| 11 |
balance of paynments
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how much money goes in and out of your country
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| 12 |
intrist rates
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how banks make money on loans
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| 13 |
culter
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a countrys unique properties
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| 14 |
formal trade baries
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actual laws on trade
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| 15 |
informal trade barries
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culteral laws on trade
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