Ch11 International trade - AO1 Flashcards
1
Q
Exports
A
a good sold overseas (injection)
2
Q
Imports
A
a good sold bought into a country (leakage)
3
Q
Visible trade
A
trade of physical goods
4
Q
invisible trade
A
Trade of services
5
Q
quota
A
Physical limit on amount of a product which can be brought into a country
6
Q
Tariff
A
tax on imports
7
Q
subsidies
A
financial support given to exporters and domestic producers
