1. International Trade Terms Made Simple
Import- Products made in another country and sold here. Example- A car made in Japan and sold in the US
Export- A product made here and sold to another country. A car made in Detroit and sold to Europe.
Balance of Trade- Imports = Exports

2. Trade Organizations
A group of countries who have agreed to trade with each other. No barriers for trade.
NAFTA- North American Free Trade Agreement (Trade Block)
EU- European Union (Trading Block)
WTO- World Trade Organization
ASEAN (Trading Block)
G8- Top 8 industrial countries meet
G20- Top 20 industrial countries meet

3. Floating vs. Adjustable Peg Rates Made Simple
Floating Exchange Rates is when currency is traded like a product. Value of the currency is based on demand. ($1 = 5 Euros)
Adjustable Peg Rates- Used when the dollar was based on gold. ($35= 1oz. Gold). No longer used due to deficit spending