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GSE Unit 6 Vocab #2

GSE Unit 6 Vocabulary Quiz #2

arable suitable for farming
climate the average annual weather conditions in a given location.
commodities any raw material or agricultural product that is bought and sold
temperate climate characterized by mild temperatures
Tropic of Capricorn a parallel latitude located south of the equator at 23.5º S
urban an industrialized area of a city or town
specialization focusing on a narrow range of products/services that can be produced most efficiently and cost-effectively
voluntary trade trade in which both partners freely agree to and benefit from the exchange of goods/services
boycott refusal to purchase a good/service from a specific company or country
domestic term which refers to the products of services originating in one’s own country; it is the antonym of foreign
embargo a trade barrier which blocks all trade with another nation
quota a trade barrier which places a limit on imported goods
sanction the act of economically punishing another nation
tariff a trade barrier which places a tax on imported goods
trade barrier any activity which slows or outright blocks the free exchange of goods and services between nations
Created by: jpkelley