Chapter 3: Exploring Global Business

absolute advantage

balance of payments

balance of trade

bill of lading

comparative advantage

countertrade

currency devaluation

draft

dumping

economic community

embargo

exporting

General Agreement on Tariffs and Trade (GATT)

import quota

importing

international business

International Monetary Fund (IMF)

letter of credit

licensing

multinational enterprise

nontariff barrier

a nontax measure imposed by a government to favor domestic over foreign suppliers

strategic alliance

trade deficit

World Trade Organization (WTO)