Canada's Voluntary Trade

helps and has a positive impact on both countries

• specialization

• trade

• mutually beneficial

• prosperity

• self-sustaining

focusing or concentrating on a specific range of products and services that can be produced in a cost effective and efficient way

• specialization

• voluntary trade

• mutually beneficial

• prosperity

• self-sustaining

Which is the best description of a successful economy?

• Mutually beneficial

• Strong trading partners

• Voluntary

• All of the above

It makes sense for a country to produce everything that it is capable of.

• True

• False

A trade barrier that blocks trade with a country

• Tariff

• Boycott

• Quota

• Sanction

• Embargo

A trade barrier that limits imported goods

• Tariff

• Boycott

• Quota

• Sanction

• Embargo

A trade barrier that taxes certain imported or exported goods

• Tariff

• Boycott

• Quota

• Sanction

• Embargo

Read the scenario and choose the correct trade barrier:

Canada placed a block on all imports from Syria

• Tariff

• Quota

• Embargo

Read the scenario and choose the correct trade barrier:

Canada enforced a limit of knit fabric imports from China

• Tariff

• Quota

• Embargo

Read the scenario and choose the correct trade barrier:

Canada added a new tax on all coffee products from Columbia

• Tariff

• Quota

• Embargo