Total value of a nation's exports compared to its imports measured over a particular period
bring (goods or services) into a country from abroad for sale
to send (goods or services) to another country for sale.
international trade left to its natural course without tariffs, quotas, or other restrictions.
copy (stored data) to a different location, especially so as to protect against loss
a tax or duty to be paid on a particular class of imports or exports.
an authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities,
The difference between money coming into a country and money leaving the country
an agreement among the United States, Canada and Mexico designed to remove tariff barriers between the three countries.
an expansion of NAFTA to five Central American nations
where a firm provides the right to manufacture its product
obtain (goods or a service) from an outside or foreign supplier, especially in place of an internal source.
the value of one currency for the purpose of conversion to another.
To exchange (goods or services) for other goods or services without using money.
the ability of an individual or group to carry out a particular economic activity more efficiently than another individual or group.
a commercial enterprise undertaken jointly by two or more parties that otherwise retain their distinct identities.
an outsourcing of certain production activities that were previously performed by the manufacturer to a third-party
an official ban on trade or other commercial activity with a particular country.
the amount by which the cost of a country's imports exceeds the value of its exports.
a limited quantity of a particular product that under official controls can be produced, exported, or imported.

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General Business


Chapter 5


Economic Terms




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