Fur Trade With Tea And French Toast Flashcards
Mercantilism Definitions
1
Q
What is trade?
A
To give something and get something in return
2
Q
What is economics?
A
The study of trade
3
Q
What are goods?
A
Useful objects
4
Q
What is a market?
A
Somewhere that trading takes place
5
Q
What is an export?
A
A product that is sold to people outside the country in which it was made
6
Q
What is an import?
A
A raw material or finished product that is brought into a country from another country
7
Q
What is a tax?
A
Money that people pay to the government to cover the costs of running the government, providing services, and building infrastructure, such as roads and bridges.
8
Q
What is a tariff?
A
A tax charged on goods as they move from one country to another
