Chapter 10: Domestic vs International Business Flashcards
1
Q
Importing
A
for the buyer, products bought from businesses in other countries
2
Q
Exporting
A
for the seller, products sold in other countries
3
Q
Tariffs
A
a duty placed on imported products
4
Q
Quotas
A
a limit on the quantity of imports
5
Q
Boycotts
A
restricts the importing of certain products from certain countries
6
Q
Embargo
A
an official ban on trade or other commercial activity with a particular country
7
Q
Protectionism
A
gov’t policy protecting the local industries from foreign competition
