Tech Jobs & Trade Flashcard

Front

What is a primary reason why countries engage in international trade?

Back

To obtain goods and services they cannot produce efficiently themselves

Front

What is the role of technology in manufacturing jobs (as related to international trade)?

Back

It increases production efficiency and quality

Front

What is a tariff?

Back

A tax on imports or exports between countries

Front

What is the main goal of a free trade agreement?

Back

To reduce or eliminate trade barriers between member countries

Front

Why do countries specialize in the production of certain goods in the context of international trade?

Back

Because of differences in climate and natural resources