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Chapter.3.
| Question | Answer |
|---|---|
| What are imports? | Imports are items bought from other countries. |
| What are exports? | Exports are goods and services sold to other countries. |
| What is balance of trade. | Balance of trade is the difference between a country's total exports and total imports. |
| What is the balance of payments? | The balance of payments in the difference between the amount of money that comes into a country and the amount that goes out of it. |
| What is the exchange rate? | The exchange rate is the value of a currency in one country compared with the value in another. |
| What is a quota? | A quota is a limit the government sets to limit the quantity of a product that may be imported or exported within a given period. |
| What is a tariff? | A tariff is a tax that a government places on certain imported products. |
| What is embargo? | Embargo is the act of the government stoping the export or import of a product completely. |
| What is infrastructure? | Infrastructure is a nation's transportation, communication, and utility systems. |
| What is joint venture? | Joint venture is an agreement between two or more companies to share a business project. |
Created by:
morgie.marie
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