5 International Trade Terms to Know: Week 1
You may find this appearing over your head
At Globial, we’re all about learning and knowledge. It’s in our blood. Without information, trust is impossible. That’s why we have this series called 5 International Trade Terms to Know. Every week, we’re going to bring you 5 international trade terms from our Trade Dictionary, part of the Tradebook on Globial.
Just relax and make your Saturday a learn something Saturday.
When you’re just starting out as an international business, it’s easy to be overwhelmed by all the unfamiliar lingo and words used in the global trade. That’s why we’re here, bringing you 5 trade terms every week to help build your foundation, increase your knowledge, and help you get an edge on a global scale.
Today, let’s start with the A’s:
Abandonment : The act of giving up a claim or right to a property.
Abbrochment :The act of a firm or person purchasing merchandise at wholesale prices and selling them to particular retailers in order to control the market, also a method used by a firm to monopolize the market.
Above the Line : Refers to transactions that are included in calculating the balance of payments surplus or deficit.
Absolute Advantage : The ability to produce goods or services more efficiently than the competition. Given the same amount of input (time, resources, etc), the company with the absolute advantage will have produced more output.
Absolute Advantage Trade policy : The concept that a country should import only goods in which the exporting country has an absolute advantage.
What international trade terms did you know already? Which did you not? Got a better definition or an example to illustrate the terms here? Leave your responses in the comments below.
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