| Question |
Answer |
| What are imports? |
Items bought from other countries |
| What are exports? |
Goods and Services sold to other countries |
| What is balance of trade? |
The difference between a country's total exports and total imports. |
| What is balance of payments? |
The difference between the amount of money that comes into a country and the amount that goes out of it. |
| What is an exchange rate? |
The value of a currency in one country compared with the value in another. |
| What is infrastructure? |
Refers to a nation's transportation, communication, and utility systems. |
| What is trade barriers? |
Restrictions to free trade. |
| What is quota |
A limit set by the government on the quantity of a product that may be imported or exported within a given period. |
| What is tariff? |
A tax that a governent places on certain imported products. |
| What is embargo? |
If a government wishes to do so, it can stop the export or import of a product completely. |
Poultry
