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Chapter 4 vocab blah
Vocabulary
Term | Definition |
---|---|
Global Economy | the Economy between all countries |
Exporting | Selling goods to other countries |
Importing | buying goods to sell domestically |
Trade Barrier | Restrictions on goods entering/exiting the country |
Tariff | a type of trade barrier, a tax on imports/exports |
GDP (Gross Domestic Product) | total value of exports/domestic goods |