please define each term briefly.

Key Terms/Concepts to Learn: International business foreign-exchange control import tariff Absolute advantage comparative advantage dumping Nontariff barrier import quota embargo Economic community international monetary fund (IMF) franchising General agreement on Tariffs and Trade (GATT) World Trade Organization (WTO) Lean Manufacturing World Bank North American Free Trade Agreement (NAFTA) Maquiladora program World's Share of GDP Trans Pacific Partnership (TPP) Exporting Importing Asia-Pacific Economic Cooperation (APEC) European Union (EU) subsidies Specializations/Minors in International Area of Study: Business Pre Law International Business offshoring Walmart & Outsourcing Powerpoints: Monopsony outsourcing Foreign direct investment (FDI): (inflows/outflows) multinational corporation licensing Walmart the High Cost of Low Prices critical thinking Logistics Is Walmart Good for America? The Walmart Effect Value added tax (VAT)