chpt. 3 Word Scramble
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| 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. |
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