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SHMS 6th SS Vocab 4
SHMS 6th Grade Social Studies Vocab 4
| Term | Definition |
|---|---|
| trade barriers | Obstacles to trade. They make trade between two countries harder. |
| Taxes | A charge incurred by a citizen’s person, property, or activity for the support of government |
| Tariff | Taxes on imported goods. They raise prices on foreign imported goods, making locally made goods cheaper; therefore, they help local businesses. |
| Quotas | The limit the amount of foreign goods that may be imported in a given amount of time. |
| Embargo | When one nation refuses to trade with another nation. |
| North American Free Trade Agreement (NAFTA) | An agreement between the United States, Canada, and Mexico to remove all tariffs to increase trade between the three countries. |
| Currency | Something that is assigned value. It can be used to buy goods and services in a market. It is usually called money. |
| Colonization | the act of a country taking control of an area outside of its borders |
| Literacy | the ability to read and write |
| Budget | a plan for using money |
| Income | money earned |
| Credit | the ability of a customer to obtain goods or services before payment |
Created by:
hbogue
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