Benefits of Free Trade Flashcards
1
Q
Imports
A
Goods or resources that are bought and brought (into) a country
2
Q
Exports
A
Goods or resources that are sold and sent out (exit) to other countries
3
Q
Tariff
A
A fee or tax on a good that is imported into a country
4
Q
Quota
A
A limit on the amount of a good that cam be imported into a country
5
Q
Embargo
A
The refusal of one country to trade with another
6
Q
Free Trade
A
An economic practice where countries can import and export goods without fear of the government stopping it
