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chapter 3 d

QuestionAnswer
what are imports items brought from other countries
what are exports goods and services sold to other countries
what is balance of trade the diference beteen a country's total exports and total imports
what is balance of payments the difference between the amount of money that comes into a country and the amount that goes out of it
what is exchange rate the value of a currency in one country campared with the value in another
what is infrastructure a factor tht supports international trade in industrialized countries; including a nation's transportaation, communications, and utility systems
what is trade barrier restriction to free trade
what is quota a government set limit on the quantity of a product that may be imported or exported within a given period
what is tariff a tax that a government places on certain imported products
what is embargo an action imposed by the government to stop the export or import of a product completely
Created by: Pdawg