Textbook: Hill, Charles, W. L. & Hult. G. T. (2019). International business: Competing in the international marketplace (13th ed.).
Chapter Nine - Regional Economic Integration
How countries handle cross-border trading. A trade agreement is one of the simplest methods countries can use to facilitate legal and business cross-border transactions. Trade agreements can be between two or more countries and do not have to be completely fair, although both parties attempt to maintain balance with the other party.
Chapter Eleven: The International Monetary System
Floating exchange rate regime - the foreign exchange market determines the relative value of a currency. Pegged exchange rate - the value of the currency is fixed relative to a reference currency, such as the U.S. dollar. Managed float system - the value of the currency is determined by market forces but managed by the government. Fixed exchange rate - European Monetary System.