Business Chapter 25 Flashcards
1
Q
Administrative barriers
A
Rules and regulations (such as trading standards and strict specifications) that make it difficult for importers to enter on oversees market
2
Q
Embargo
A
A type of quota that ban international trade completely. Usually for political reasons .
3
Q
Import quota
A
A physical limit on the quantity of imports allowed into a country
4
Q
Protectionism
A
An approach used by a government to protect domestic producers
5
Q
Subsidy
A
Financial support given to a domestic producer to help compete with oversees firms
6
Q
Tax break
A
A tax advantage designed to help businesses
7
Q
Trade war
A
Where two on more countries try to damage each other’s international trade by imposing trade barriers
