Free Trade Vocab Flashcards

1
Q

Imports

A

are goods that are bought and brought into a country

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2
Q

Exports

A

are goods that are sold and sent out of other countries

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3
Q

Tariff

A

is a fee on a good that is imported into a country

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4
Q

Quota

A

is a limit on amount of good that can be imported into a country

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5
Q

Embargo

A

is the refusal of one country to trade with another

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6
Q

Free Trade

A

is an economic practice where countries can import or export goods without fear of the government stopping it.

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7
Q

Efficiency

A

accomplishing something with the lease amount of wasted time and effort

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8
Q

Quality

A

degree of excellence in something

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9
Q

Incentive

A

a thing that motivates you to do something

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