Chapter 10: Business in a Global Economy

Imports

________ are goods and services that one country buys from another country.

Exports

________ are goods and services that one country sells to another country.

Protectionism

________ is the practice of the government putting limits on foreign trade to protect businesses at home.

International trade

________ involves the exchange of goods and services between nations.

Embargo

A(n) ________ is a ban on the import or export of a product.

Multinational corporation

A(n) ________ is a company that does business in many countries and has facilities and offices around the world.

World trade

________ is the exchange of goods and services across international boundaries.

development of the global economy

The ________ is often referred to as globalization.

multinational corporation

Sony is a(n) ________.