Source: Image of globe, dollar bill, t-shirt, red car, wine, blue car, man at laptop on phone, box, handshake, crowd of people, images by Video Scribe, License held by Jeff Carroll; Image of oil pump, Public Domain, http://bit.ly/1pHpQoF; Image of peanut, Public Domain, http://bit.ly/ULZvM4; Image of trade balance sheet, Public Domain, http://bit.ly/1r7ftL5.
The capacity to produce a higher number of goods or services using the same production resources as competitors.
A trading advantage achieved over another company due to lower opportunity cost.
Goods produced domestically and sold to a foreign nation.
The expansion of business into international markets.
Goods domestically sold that were produced in a foreign nation.
Business conducted between two or more nations.