69 Protection Flashcards
1
Q
administrative barriers
A
rules regulations that make it difficult for importers to penetrate an oversea market
2
Q
dumping
A
where an oversea firm sells large quantities of a product below cost in the domestic market
3
Q
embargo
A
complete ban on international trade - usually political reasons
4
Q
import quota
A
a physical limit on the quantity of the imports allowed into a country
5
Q
infant industries
A
new industries that have yet to establish themselves
6
Q
protectionism
A
an approach used by a government to protect domestic products
7
Q
subsidy
A
financial support given to a domestic producer to protect domestic products
8
Q
tariffs or custom duties
A
a tax on imports to make them more expensive
9
Q
trade barriers
A
measures designed to restrict trade
