FCSDIB-Ch 4 Word Scramble
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| Term | Definition |
| boycott | absolute restriction on the import of certain products from certain countries |
| common market | an agreement among contries that eliminates trade barriers, encourages investment, & allows workers to move freely across borders |
| democracy | a political system in which all people take part in making the rules that govern them |
| duty | a tax placed on products that are traded internationally |
| economic nationalism | a policy of restricting foreign ownership of local companies & hindering foreign imports |
| expropriation | when a government takes control & ownership of foreign-based assests & companies |
| free-trade agreement | an arrangement between contries that eliminates duties & trade barriers on products traded among themselves |
| free-trade zone | a designated area where products can be imported duty-free |
| home country | the country in which a multinational enterprise is headquartered |
| host country | the country in which a multinational enterprise is a guest |
| most-favored nation (MFN) status | designation given to certain countries that allows their products to be imported into the granting country under the lowest customs duty rate |
| political system | the means by which people in a society make the rules by which they live |
| protectionism | a government policy of protecting local or domestic industries from foreign competition |
| quota | a limit on the total number, quantity, or monetary amount of a product that can be imported from a given country |
| social responsibility | the process when people function as good citizens who are sensitive to their surroundings |
| tax holiday | situation where a corporation does not pay corporate income taxes to a foreign government if it invests in their country |
| totalitarian system | a government system in which political control is held by one person or a small group of people |
| trade embargo | a sanction imposed by a country against another country that stops all import-export trade with that country |
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