International Trade

Front

What is a tax paid on imports?

Back

Tariff

Front

What is a limit on imports?

Back

Quota

Front

Export means

Back

selling goods to another country

Front

When determining comparative advantage one must determine

Back

Opportunity cost

Front

Goods and services produced in other countries and sold domestically.

Back

import

Front

Goods and services produced domestically and sold in other countries.

Back

export

Front

The policy of erecting trade barriers to shield domestic markets from foreign competition.

Back

Protectionism

Front

A ban on trade with a country or group of countries, usually for political reasons; a type of trade barrier.

Back

Trade Embargo

Front

The value of one currency in terms of another.

Back

Exchange Rate

Front

A North American agreement formed to promote trade between Canada, the United States, and Mexico. Just renamed recently.

Back

NAFTA-USMCA