International Economics

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Question English Answer English
currency rate
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a country's currency value in relation to foreign currency
Currency rate may decide on country's international trade profitability.
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a good or material that can be sold as an article of commerce
There are many international commodity markets.
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a group of large producers that unite to protect their interests on the market
OPEC is probably the best-known international cartel in the world.
national treatment principle
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principle stating that all economic privileges should apply equally to country's citizens and foreigners
National treatment principle constitutes important part of WTO agreements.
import quota
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maximum amount of good or goods that can be imported
Trump's administration will consider setting up new import quotas.
to subsidize
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to support domestic production to make it more competitive
Government considers subsidizing agricultural sector to help it fight with foreign companies.
trade war
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state of hostile economic behaviour of the partners who mutually impose on themselves trade restrictions
Donald Trump has started a trade war with China.
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"International politics"
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