Balance of Trade
The difference in value between how much a country imports and how much it imports
Imports
Goods and services one country buys from another country
Exports
Goods and services one country sells to another country
Multinational Corporation
A company that does business and has facilities in many countries around the world
Exchange Rate
The price at which the currency of one country can buy the currency of another country
Protectionism
Limiting trade with other countries to protect business at home
Embargo
A ban on the import or export of a product
Tariff
A tax placed on imported products to make them more expensive than domestic products
Quota
A limit placed on the quantities of a product that can be imported
Free Trade
Few or no limits on trade between countries