Key terms Flashcards
1
Q
Tariffs
A
taxes applied to goods when they are traded across international boarders
2
Q
Protectionism
A
controlling trade between countries by means of tariffs, quotas and regulations that disadvantage foreign companies and protect domestic ones
3
Q
FDI
A
investement within a country originating from outside that country
4
Q
Special economic zones
A
zones designed to attract FDI usually by offering preferential trading conditions
5
Q
privatisation
A
the transfer of ownership from the state to private sector
6
Q
liberalisation
A
reduce and remover rules governing economic activity
7
Q
Free Trade
A
a trading system based on the removal of protectionism and the promotion of FDI and liberalisation
