1. What are key characteristics of international trade?
Make sure you are going to recieve somthing in exchange.
2. What are the differences between exports and imports?
Exports go out and imports come in.
3. What are the theories underlying the decisions made in international trade?
You need to know what your being asked.
4. What types of actions affect the flow of international trade, and who makes them?
People selling out of state take longer because they must be stopped and checked all the time.
5. How does international trade affect a nation’s economy?
we export a lot of goods and if they dont bring their goods it will not be given out in the country.
6. What role do governments play in making decisions about international trade?
They get the say on what we recieve and give in and out of this country.
VOCABULARY
1. Free Trade Zone: A free trade zone is crossing the border without being taxed for it.
2. Most Favored Nation Status: Under the provisions of the General Agreement on Tariffs and Trade (GATT), when one country accords another most-favored- nation status it agrees to extend to that country the same trade concessions, eg, lower tariffs or reduced nontariff barriers, which it grants to any other recipients having.
3. Free trade agreement: Free trade area is a designated group of countries that have agreed to eliminate tariffs, quotas and preferences on most (if not all) goods and services traded between them. It can be considered the second stage of economic integration.
4. Common Market: an international organization of European countries formed after World War II to reduce trade barriers and increase cooperation.
5. Tax holiday: A tax holiday is a temporary reduction or elimination of a tax.
6. protectionism: the policy of imposing duties or quotas on imports in order to protect home industries from overseas competition
7. Duty:the social force that binds you to the courses of action demanded by that force
8. Quota: a prescribed number.
9. Boycott: refuse to sponsor; refuse to do business with
10. Trade Embargo: embargo: a government order imposing a trade barrier
11. economic nationalism: Economic nationalism is a term used to describe policies which emphasize on domestic control of the economy, labor and capital formation, even if this requires the imposition of tariffs and other restrictions on the movement of labour, goods and capital
12. political system: the members of a social organization who are in power
13. democracy: the political orientation of those who favor government by the people or by their elected representatives
14. totalitarian system: Totalitarianism (or totalitarian rule) is a political system where the state recognizes no limits to its authority and strives to regulate every aspect of
15. host country: Recipient country of inward investment by a foreign firm.
16. social responsibility: Social responsibility is an ethical or ideological theory that an entity whether it is a government, corporation, organization or individual has a responsibility to society.
17. home country: Home Nations (often written as the common noun home nations) is a collective term used to refer to England, Northern Ireland, Scotland and Wales (which together form the United Kingdom). It is most commonly heard in sporting contexts.
18. individualism: individuality: the quality of being individual.
19. collectivism: Bolshevism: Soviet communism
20. ethnocentrism: belief in the superiority of one's own ethnic group
21. culture shock: a condition of disorientation affecting someone who is suddenly exposed to an unfamiliar culture or way of life or set of attitudes.
22. contexting: discourse that surrounds a language unit and helps to determine its interpretation
23. Nonverbal communication- the process of comunication through sending and receiving wordless messages.
Make sure you are going to recieve somthing in exchange.
2. What are the differences between exports and imports?
Exports go out and imports come in.
3. What are the theories underlying the decisions made in international trade?
You need to know what your being asked.
4. What types of actions affect the flow of international trade, and who makes them?
People selling out of state take longer because they must be stopped and checked all the time.
5. How does international trade affect a nation’s economy?
we export a lot of goods and if they dont bring their goods it will not be given out in the country.
6. What role do governments play in making decisions about international trade?
They get the say on what we recieve and give in and out of this country.
VOCABULARY
1. Free Trade Zone: A free trade zone is crossing the border without being taxed for it.
2. Most Favored Nation Status: Under the provisions of the General Agreement on Tariffs and Trade (GATT), when one country accords another most-favored- nation status it agrees to extend to that country the same trade concessions, eg, lower tariffs or reduced nontariff barriers, which it grants to any other recipients having.
3. Free trade agreement: Free trade area is a designated group of countries that have agreed to eliminate tariffs, quotas and preferences on most (if not all) goods and services traded between them. It can be considered the second stage of economic integration.
4. Common Market: an international organization of European countries formed after World War II to reduce trade barriers and increase cooperation.
5. Tax holiday: A tax holiday is a temporary reduction or elimination of a tax.
6. protectionism: the policy of imposing duties or quotas on imports in order to protect home industries from overseas competition
7. Duty:the social force that binds you to the courses of action demanded by that force
8. Quota: a prescribed number.
9. Boycott: refuse to sponsor; refuse to do business with
10. Trade Embargo: embargo: a government order imposing a trade barrier
11. economic nationalism: Economic nationalism is a term used to describe policies which emphasize on domestic control of the economy, labor and capital formation, even if this requires the imposition of tariffs and other restrictions on the movement of labour, goods and capital
12. political system: the members of a social organization who are in power
13. democracy: the political orientation of those who favor government by the people or by their elected representatives
14. totalitarian system: Totalitarianism (or totalitarian rule) is a political system where the state recognizes no limits to its authority and strives to regulate every aspect of
15. host country: Recipient country of inward investment by a foreign firm.
16. social responsibility: Social responsibility is an ethical or ideological theory that an entity whether it is a government, corporation, organization or individual has a responsibility to society.
17. home country: Home Nations (often written as the common noun home nations) is a collective term used to refer to England, Northern Ireland, Scotland and Wales (which together form the United Kingdom). It is most commonly heard in sporting contexts.
18. individualism: individuality: the quality of being individual.
19. collectivism: Bolshevism: Soviet communism
20. ethnocentrism: belief in the superiority of one's own ethnic group
21. culture shock: a condition of disorientation affecting someone who is suddenly exposed to an unfamiliar culture or way of life or set of attitudes.
22. contexting: discourse that surrounds a language unit and helps to determine its interpretation
23. Nonverbal communication- the process of comunication through sending and receiving wordless messages.