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Ch. 17 - Global Trade

Mr. Kenzor - Sociology
Horizontales
Government order prohibiting the movements of goods to a country
Goods and services that a nation buys from other nations
Argument that new and emerging industries should be protected from foreign competition until they are strong enough to compete
Country's ability to produce a given product relatively more efficiently than another country
Tax placed on an imported product
Agreement signed in 1993 to reduce tariffs among the U.S., Canada and Mexico
Tariff on an imported product designed to protect less efficient domestic producers
Verticales
Balance of payments outcome when spending on imports exceeds revenues received from exports
Country's ability to produce a given product more efficiently than can another country
Situation occurring when the value of a nation's exports exceeds the value of its imports
Tariff placed on imported goods to raise the amount of money coming into a nation
International agreement signed in 1947 among 23 countries to extend tariff concessions and reduce import quotas
People who want to protect domestic producers against foreign competition with tariffs, quotas, and other trade barriers
International agency that administers trade agreements, settles trade disputes, organizes trade negotiations, and provides technical assistance and training for developing countries
Goods and services that a nation produces and then sells to other nations
Limit on the amount of a good that is allowed into a country