6.5 International influences Flashcards
1
Q
Protectionism
A
The use of barriers to free trade to protect a country’s domestic industries.
2
Q
Tariffs
A
A tax is imposed on an imported product.
3
Q
Quotas
A
A physical limit is placed on the quantity of imports of a certain product.
4
Q
Voluntary export limits
A
Agreed limits to the quantity of certain goods sold by one country to another.
5
Q
Free international trade
A
Trade with no restrictions or barriers that might limit trade between countries.
