UNIT 27: INTERNATIONAL TRADE

Free trade

imports and exports of goods and services without any government restrictions. (Thương mại tự do)

Protectionism

restricting imports by way of trade barriers such as tariffs and quotas. (bảo hộ thương mại)

trade barriers

government policies or regulations that restrict international trade. (rào cản thương mại)

tariff

a tax charged on imports. (thuế nhập khẩu/ thuế quan)

quota

a maximum quantity of goods of a specific kind that can be imported into a country. (hạn ngạch)

Absolute advantage

a country's ability to produce goods at a lower cost than any other country.

Comparative advantage

a country's ability to produce particular goods more efficiently (using fewer resources and at a lower cost) than some other countries.

infant industry

an early stage of development and which cannot survive competition from foreign companies.

strategic industry

particularly important to a country's economy.

dumping

selling unwanted goods very cheaply, usually in other countries. (bán phá giá)

generic

a cheaper copy of a product that is not marked with the producer's name.

copyright

the legal right to control the production and selling of a book, play, film, photograph, piece of music, etc.

subsidize

to pay part of the cost of something.

trademark

a name or a symbol showing that a product is made by a particular producer and which cannot be legally used by anyone else.

unfettered

an environment or situation where there are no restrictions, limitations, or controls imposed on market activities.

Externality

a cost or benefit that is caused by one party but financially incurred or received by another. (ngoại tác)

Aerospace industry

encompasses the design, development, production, and maintenance of aircraft and spacecraft. (ngành hàng khôngvux trụ)