Enhance Your Learning with Economics - Trade Agreements Flash Cards for quick learning
The study of how individuals, businesses, and governments allocate resources to satisfy unlimited wants and needs.
Bilateral or multilateral agreements between countries that aim to reduce barriers to trade and promote economic cooperation.
The exchange of goods and services across national borders, typically through imports and exports.
Taxes imposed on imported goods, often used to protect domestic industries and generate revenue for the government.
Taxes or fees imposed on goods when they are imported or exported.
Trade agreements between countries within a specific region, such as the European Union or NAFTA.
Trade agreements between two countries, focusing on reducing trade barriers and promoting economic cooperation.
Trade agreements between multiple countries, often negotiated through international organizations like the World Trade Organization.
Discussions and bargaining between countries to reach agreements on trade policies, tariffs, and market access.
The increasing interconnectedness and interdependence of countries through the exchange of goods, services, information, and ideas.
The ability of a country to produce a good or service at a lower opportunity cost than other countries.
The absence of barriers to trade, such as tariffs, quotas, and subsidies, allowing goods and services to flow freely between countries.
The use of trade barriers, such as tariffs and quotas, to protect domestic industries from foreign competition.
A situation in which a country imports more goods and services than it exports, resulting in a negative balance of trade.
A situation in which a country exports more goods and services than it imports, resulting in a positive balance of trade.
The practice of selling goods in a foreign market at a price lower than their production cost, often to gain a competitive advantage.
Legal rights that protect creations of the mind, such as inventions, literary and artistic works, and trademarks.
Measures taken by governments to protect domestic industries from unfair trade practices, such as anti-dumping duties and countervailing duties.
The removal or reduction of barriers to trade, such as tariffs and quotas, to promote free and open markets.
A group of countries that have signed a trade agreement to promote economic integration and cooperation.
An international organization that deals with the global rules of trade between nations, ensuring trade flows as smoothly, predictably, and freely as possible.
A trade agreement between the United States, Canada, and Mexico, aimed at reducing trade barriers and promoting economic cooperation.
A political and economic union of 27 member states located primarily in Europe, promoting economic integration and cooperation.
A trade agreement among 11 Pacific Rim countries, aiming to deepen economic ties and promote regional trade integration.
A regional trade bloc in South America, comprising Argentina, Brazil, Paraguay, and Uruguay, with associate members and observer countries.
A regional development bank that aims to promote economic and social progress in Asia and the Pacific region through loans, grants, and technical assistance.
An international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects.
An international organization that aims to promote global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
Investment made by a company or individual in one country into business interests located in another country.
A record of all economic transactions between the residents of a country and the rest of the world over a given period of time.
The exchange of services, such as tourism, transportation, and telecommunications, between countries.
The exchange of tangible products, such as machinery, vehicles, and agricultural products, between countries.
A global decentralized market for the trading of currencies, where participants can buy, sell, exchange, and speculate on currencies.
Measures taken to simplify and streamline international trade procedures, such as customs clearance and documentation requirements.
A disagreement between two or more countries regarding trade policies, tariffs, or market access, often resolved through negotiations or dispute settlement mechanisms.
A situation in which countries impose tariffs or other trade barriers on each other in retaliation for trade restrictions or unfair trade practices.
The difference between the value of a country's exports and the value of its imports over a given period of time.
A set of rules and regulations that govern a country's international trade activities, including tariffs, quotas, and trade agreements.
Financial products and services that facilitate international trade, such as letters of credit, export credit insurance, and trade finance loans.
Activities and initiatives undertaken by governments and organizations to promote exports and attract foreign investment.
The adherence to laws, regulations, and policies related to international trade, including customs procedures, export controls, and trade sanctions.
A legally binding agreement between two or more countries that sets out the terms and conditions for their trade relationship.
A person or representative who engages in negotiations on behalf of a country or organization to reach trade agreements and resolve trade disputes.
Any measure that restricts or impedes international trade, such as tariffs, quotas, subsidies, and technical barriers to trade.
The process of deepening economic cooperation and integration between countries through the removal of trade barriers and the harmonization of trade policies.
A systematic examination of a country's trade policies and practices, conducted by the World Trade Organization to ensure transparency and compliance with international trade rules.
An agreement negotiated by the World Trade Organization to simplify and streamline customs procedures and other trade-related processes, aiming to reduce trade costs and enhance competitiveness.
A measure of the value added by each country in the production of a good or service that is exported or imported.
The exchange of intellectual property rights, such as patents, trademarks, and copyrights, between countries.
The exchange of goods and services that contribute to environmental protection, such as renewable energy technologies and waste management systems.
The exchange of digital services, such as e-commerce, cloud computing, and digital payments, between countries.
The exchange of agricultural goods, such as crops, livestock, and processed food products, between countries.