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Economics

Trade Barriers

TermDefinition
tariff tax on imports
quota limit on imports
embargo to forbid/stop all trade
trade barrier something that limits trade
Geographic trade barrier A physical feature that makes trade difficult - ex. ocean, mountain range, rain forest, etc.
Government Imposed (or political) Trade Barrier A trade barrier that is established by the government - ex. tariff, quota, embargo
Trade Exchanging one product or service for something else
Free Trade Trade without any restrictions (no trade barriers)
Import Bringing a product into a country
Export Sending a product to another country
Created by: slind
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