2.  How can a business get involved in international trade? by importing, exporting and/or setting up shop in a foreign country.  World Trade Organization- a global coalition of 135 governments that makes the rules governing international trade.

3.  Tariff- a tax on imports.  Embargo- a total ban on specific goods coming into and leaving a country

4.  North American Free Trade Agreement- an international trade agreement among the United States, Canada, and Mexico.  Freight Forwarders- are licensed by the U.S. Maritime Commission to handle export details.

13.  Mini Nationals-midsize and smaller companies that have operations in foreign countries.  Absolute Advantage- occurs when a country has special natural resources or talents that allow it to produce an item at the lowest cost possible.

14.  Joint Ventures- Partnerships that allow companies to participate in another country's economy.  Customs brokers- are specialists licensed by U. S. Treasury Department who know the different laws, procedures, and tariffs.

15.  Balance of Trade- is the difference in value between exports and imports of a nation.  World Trade Organization- is the agency that was created to police the General Agreement on Tariffs and Trade (GATT)

16.  International Trade- is the exchange of goods and services between nations.  Customization- is the product and promotion strategy of creating new products for foreign markets.

17.  Globalization- is the product and promotion strategy of keeping a product and its advertising message the same around the world.  Comparative Advantage- is the value that a nation gains by selling the goods that it produces most efficiently.

18.  Three types of trade barriers are Tariffs, Quotas, and Embargoes.  Two economic factors that can discourage international trade are labor costs and infrastructure.

19.  Two political factors that can discourage international trade are _political corruption and government instability.  U.S. fast food companies enter into in order to open franchises in foreign countries? Joint ventures