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JA Global Marketplace. Session One. Key Terms. Domestic trade: When people and businesses exchange goods or services within their own country. Market: A place where trade occurs. Exports: Good or services sold to another country. International trade: - PowerPoint PPT Presentation
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JA Global Marketplace
Session One
Key TermsMarket:
A place where trade occurs.
Domestic trade:When people and
businesses exchange goods or services
within their own country
International trade:When people exchange goods or services with
people in other countries.
Imports:Goods or
services sold to another country.
Exports:Good or services sold to another
country
Session Two
Tariff:A tax on goods importedinto a country.
Subsidy:A government action that decreases as industry’s production costs, which also decreases the price of its good(s).
Embargo:A ban on trade with another country for a single good or all goods.
Quota:A control on the amount of a product that can be imported into a country.
Consumers:People who buy products or services.
Producers:People who make or produce goods or services.
Session Two
Trade BarrierTrade BarrierA regulation or law that slows or prevents trading with another nation.
Session Two
NAFTANAFTANorth American Free Trade Act
Free trade:A belief that products should be free to move from country to country without barriers.
Session Two
Two or more nations
have a trade dispute.
The problem is resolved and trade
continues.
Theproblem is
NOT resolvedand is presented
to the WTO.
General Agreement on Tariffs
and Trade (GATT)This is the basic law of
international trade. Countries that are members
of the World Trade Organization (WTO)
agree to obey GATT rules.
World Trade Organization (WTO)This is an international
organization that acts as acourt to hear trade disputes and
Enforce GATT trade laws.
A panel of tradeexperts studies the
dispute and, according
to GATT rules, makes a decision.
Each Nation tries to resolve the problemthrough compromise, negotiation, and mediation.
World Trade Organization
WTO
Session Two
Trade:An exchange of goods or services.
Imports:Good or services bought from another country.
Session Three
Exports:Goods or services sold to another country.
Culture:The way of life a group of people who share traditions,
interests, beliefs, and everyday activities.
Session Two
Franchise:A special right given to a businessperson to sell a company’s products.
Session Three
Delegation:Delegation:A group of A group of people sent to people sent to speak and act speak and act for others.for others.
Milkshake $.99
Hotdog & Fries $3.50
Session Three
Hamburger and Fries $3.50
BBQ Ribs $3.50
Clam Chowder $.99
Southern Fried Chicken $3.50
Spaghetti and Meatballs $3.50
Apple Pie $.99
Immigrate:When people permanently enter a new country from another.
Emigrate:When people permanently leave a country for another.
Session Four
Human ResourcesHuman ResourcesThe people who work at a company, business, or The people who work at a company, business, or
organization.organization.
Global Trade:Global Trade:Occurs when services or goods are Occurs when services or goods are
marketed around the world.marketed around the world.
____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________
Immigration:Immigration:Entering and settling in a country or Entering and settling in a country or
region in which one is not nativeregion in which one is not native..
____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________ ____________________________
Session Four
Entrepreneur:A person who starts his or her own business in hope of earning a profit.
Session Four
Session Four
Session 5
Scribe
Scribe
Scribe
Productivity:The amount of goods produced (output) by a certain number of workers, their resources, and the length of time worked (input). Productivity =
Output
Worker Hour
One Scribe =100 pages
160 worker hours= ?
Output = Books x Pages per Book
500 books x 100 pages per book = ?
Productivity = 50,000 pages
40 worker hours= ?
Session Five
Session 6
Currency:A nation’s money.
Exchange Rate:The price of one nation’s currency in terms of another nation’s currency.
Funny MoneyFunny Money
Namero
