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1.05 terms
Term | Definition |
---|---|
Embargoes | A total ban on specific goods coming into and leaving a country. |
Globalization | The process selling the same product and using the same promotion methods in all countries. |
Quotas | a limit on the quantity of a good that can be produced abroad and sold domestically. |
Tariff | a tax on goods coming into or leaving a country. |
Trade restrictions | a restriction placed on the trade of goods/services between countries. |
Exchange rates | the price of one countries currency expressed in another countries currency. |
Input | resources used to reach a desired output. |
Output | quantity of goods or services produced in a given time by a country. |
Industrialization | The use of machines over hands to produce goods or services. |