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International Trade

International Trade. Entrepreneur. People take a risk when they start their own business- they have no guarantee that they will succeed. . Profit. The difference between the revenue a business receives and it’s cost of production. Trade.

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International Trade

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  1. International Trade

  2. Entrepreneur • People take a risk when they start their own business- they have no guarantee that they will succeed.

  3. Profit • The difference between the revenue a business receives and it’s cost of production

  4. Trade • the exchange of goods or services for other goods and services or money.

  5. Export • Goods sold in one country but produced in another country

  6. Import • Goods and services bought from sellers in another nation.

  7. Tradebarriers • something that prohibitstrade • Restrictions on trade such as tariffs, quotas and regulations

  8. Tariff • a tax imposed on imported goods.

  9. Quota • anallotment or a production assignment (the amount ) of a good • In international trade, the limit on the quantity of a product that may be imported or exported, established by government lawsorregulations

  10. Regulation • Economic regulation is the prescription of price and output (amount produced) for a specific industry, often a natural monopoly.

  11. Economic Sanction The withholding, usually by several nations, of loans or trade relations with a nation violating international law, to force it to comply.

  12. Embargo • government restriction placed on trade

  13. Exchange rate • the price of one currency in relation to another currency

  14. WAR • War plays an important roll in international trade. Blockades of ports and attacks on merchant ships inhibit trade.

  15. WEATHER • Changes in weather conditions such as hurricanes, tropical storms, blizzards and other conditions can disrupt the distribution of goods and services.

  16. BOYCOTT • Consumers refuse to buy certain products because they are protesting against some issue

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