The Benefits of Free Trade for Developing Countries Flashcards
1
Q
Imports
A
Are goods or resources that are bought and brought into a country
2
Q
Exports
A
Goods or resources that are sent out to countries
3
Q
Tariff
A
is a free or tax on a good that can is imported into a country
4
Q
Quota
A
is a limit on the amount of goods that can do imorted 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 were countries especially in the developing stage
7
Q
efficiency economy
A
accomplishing something with the least waste time and effort
8
Q
quality economy
A
degree of excellence in something
9
Q
incentive economy
A
a thing that motivated or encourges you to do something
10
Q
Traditional economy
A
based on culture and rituals and is focused on the community as a whole
