Free Trade Vocab Flashcards
1
Q
Imports
A
are goods that are bought and brought into a country
2
Q
Exports
A
are goods that are sold and sent out of other countries
3
Q
Tariff
A
is a fee on a good that is imported into a country
4
Q
Quota
A
is a limit on amount of good that can be imported into a country
5
Q
Embargo
A
is the refusal of one country to trade with another
6
Q
Free Trade
A
is an economic practice where countries can import or export goods without fear of the government stopping it.
7
Q
Efficiency
A
accomplishing something with the lease amount of wasted time and effort
8
Q
Quality
A
degree of excellence in something
9
Q
Incentive
A
a thing that motivates you to do something