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Vocabulary

tariffs тарифы

sole agents отдельные агенты duties пошлины

quotas квоты

multi-distributors дистрибуторы protectionist протекционистские

joint venture совместное предприятие, СП local subsidiary филиал

COMPREHENSION CHECK

I. Give English equivalents to the following:

в конечном результате; вызвать; ввести квоту; плохо сделанные; торговые ограничения; товары и услуги; принести в жертву; быть ответственным за; иметь сомнительную экономическую ценность.

II. Read the words and guess their meanings:

Customs, Duty free, Export declaration, Export license, Export trading company, Force majeure, Free port, Import restrictions, Quota, Trade sanctions, Subsidies, WTO.

III. Are the following statements true or false?

  1. Generally money flows out of the exporting nation and returns to the importing nation.

  2. In a interlinked global economy, consumers are given the opportunity to buy the best products at the best price.

  3. International trade involves various currencies.

  4. Some trade barriers exist if two countries have similar sets of laws.

  5. Each country produces goods and services that can be exported or consumed.

  6. When a country decides to protect its economy by breaking some trade barriers, the result is damaged to everyone.

  7. With a maximum of trade barriers, international trade and investment usually makes everyone better off.

  8. Governments can’t control international trade.

  9. A tariff is the maximum quantity of a product allowed into a country during a certain period of time.

  10. Companies can choose from various methods to establish their products in a foreign market.

  11. Export is the physical movement of merchandise out of a country.

  12. Export license is a government document which permits the exporters to export certain goods to certain countries.

IV. Fill in the gaps using the words given

interlinked

opening up

currencies

difference

importing

exporting

erecting

delivery

agent

quota

trade

  1. The main between domestic trade and international trade is the use of foreign currencies to pay for the goods and services crossing international borders.

  2. In the _____global economy, consumers are given the opportunity to buy the best products at the best prices.

  3. Some _____ barriers will always exist as long as two countries have different sets of laws.

  4. By _____ markets, a government allows its citizens to produce and export things they are best at.

  5. Whenever a country imports or exports goods and services, there is a resulting flow of funds: money returns to the _____ nation, and money flows out of the _____ nation.

  6. When a country decides to protect its economy by _____ artificial trade barriers, the result is often damaging to everyone, including those people the barriers were meant to protect.

  7. Although global trade is often added up in U.S. dollars, the trading itself involves a myriad of_____.

  8. Many import or export deals are arranged through an exporter's _____.

  9. The terms of _____ that are most common depend on the kinds of goods being traded and the countries between which the trade is taking place.

  10. _____ is the maximum quantity of a product allowed into a country during a certain period of time.