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GBHS-Chapter 20-Trade Connections

What is chapter 20 about? Trade Connections
What are linkages? Linkages occur whenever places are connected by the movement of people, goods, or information.
What is global economy? Global economy are the links between Canada and the rest of the world.
What is imported fuel? Imorted fuel is fuel from another country.
What is exported fuel? Exported fuel is fuel from Canada, sent to another country.
Goods from another country are called? Goods from another country are called imports.
Goods we send to another country are called? Goods we send to another country are called exports.
What is free trade? Under this plocy, there are no tariffs or quotas.
What is a quota? A quota limits the number or the monetary value of products entering a country.
What are trading blocs? These orginizations are groups of countries that share special trading links and privileges among themselves.
What is the economy of scale? The economy of scale benefits the producing country as well as consumers.
Created by: MarkCochrane