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1.05 terms

TermDefinition
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.
Created by: Landonl214
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