Benefits of free trade for developing countries vocab Flashcards
1
Q
Imports
A
Are goods or resources that are bought and brought (into) a country.
2
Q
Exports
A
Are goods or resources that are sold and sent out (exit) to other countries.
3
Q
Tarrif
A
A fee or tax on a good that is imported into a country.
4
Q
Quota
A
A limit amount of a goods that can be imported to 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.
