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1.05 Terms

Vocabulary

TermDefinition
Tariff a tax on imports; also known as a duty
Embargoes a total ban on specific goods coming into and leaving a country
Quotas a limit on either the quantity of monetary value of a product that may be imported
Trade Restrictions an artificial restriction on the trade of goods and services between countries
Exchange Rates the value of one currency for the purpose of conversion to another
Input what is put in, taken in, or operated on by any process or system.
Output the amount of something produced by a person, machine, or industy
Globalization the process of selling the same product and using the same promotion methods in all countries
Industrialization the development of industries in a country or region on a wide scale
Created by: sydneyw692
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