The North American Industry Classification System (NAICS) is a system for classifying businesses based on their economic activity. Introduced in April 1997, NAICS replaced the Standard Industrial Classification System (SIC) used since the 1930s.

The North American Free Trade Agreement (NAFTA) is an agreement governing trade among the United States, Canada, and Mexico in effect since January 1, 1994. NAFTA negotiations began in July 1991 and were completed in August 1992 under the George H. W. Bush administration.

The North American Development Bank (NADBank) is a binational financial institution that provides financial assistance to projects certified by the BORDER ENVIRONMENTAL COOPERATION COMMISSION (BECC).

The North American Agreement on Labor Cooperation (NAALC) is one of the two side agreements to the NORTH AMERICAN FREE TRADE AGREEMENT of the United States, Canada, and Mexico. The labor agreement affirmed the right of each country to establish its own �high� labor standards and �guiding labor principles� but did not establish common minimum standards.

The Norris-LaGuardia Anti-Injunction Act (1932), better known simply as the Norris-LaGuardia Act, restricted the power of FEDERAL COURTS to intervene in labor disputes. Until its passage, actions by groups of employees (UNIONs) such as picketing, strikes, or BOYCOTTS were considered criminal conspiracies and subject to prosecution.

Nontariff barriers (NTBs) are limits on trade other TARIFFs, including quotas, regulations, and technical requirements. While many countries claim to embrace FREE TRADE, most continue to use a variety of nontariff barriers to restrict the entry of imported goods and SERVICES.

The New York Stock Exchange (NYSE) is the oldest stock exchange in the United States. Established in 1792 along a wall that had been used to keep wild pigs out of settlers� gardens in lower Manhattan (WALL STREET), the NYSE is the largest stock exchange in the world based on dollar value of shares traded. In 2000 the exchange traded 262.5 billion shares, valued at $11.1 trillion dollars.

The New York Mercantile Exchange (NYMEX) is a market exchange where precious metals and energy FUTURES and OPTIONS contracts are bought and sold. Created in 1872 as the New York Butter and Cheese Exchange, it was renamed the New York Mercantile Exchange in 1882, and in 1994 it merged with COMEX (Commodity Exchange Inc.) to become the largest physical commodity futures exchange. Today NYMEX is used primarily by managers and broker/ dealers to reduce RISK in business transactions.

The New York Clearing House Association is the oldest and largest bank clearinghouse in the United States. Established in 1853, the Clearing House was created to provide �clearing� operations for the burgeoning network of New York banks.

New-product development is the process companies go through in creating, changing, and repositioning PRODUCTs for their TARGET MARKETS. Given the dynamics of changing markets and changing technology, almost every business needs to be constantly evaluating new products.