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LESSON 3-1 REVIEW CROSSWORD

Across
issued by a bank on request of an importer stating that the bank will pay an amount of money to a stated beneficiary
the total value of a nation’s exports minus the total value of its imports over some period of time
the total flow of money into a country minus the total flow of money out of that country over some period of time
selling and shipping raw materials or products to other nations
a firm that operates on a worldwide scale without ties to any specific nation or region
negative balance of trade
the ability to produce a specific product more efficiently than any other product
a restriction on the amount of a particular foreign currency that can be purchased or sold
a partnership formed to achieve a specific goal or to operate for a specific period of time
a contractual agreement in which one firm permits another to produce and market its product and use its brand name in return for a royalty or other compensation
the reduction of the value of a nation’s currency relative to the currencies of other countries
a limit on the amount of a particular good that may be imported into a country during a given period of time
A firm may manufacture its products in its home country and export them for sale in foreign markets.
Down
a firm’s own production and marketing facilities in one or more foreign nations
exportation of large quantities of a product at a price lower than that of the same product in the home market
a complete halt to trading with a particular nation or in a particular product
a partnership formed to create competitive advantage on a worldwide basis
an international barter transaction
a tax levied on a particular foreign product entering a country
issued by the exporter’s bank, ordering the importer’s bank to pay for the merchandise, thus guaranteeing payment once accepted by the importer’s bank