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Trade&Protectionism

TermDefinition
The removal of barriers to trade
The reduction of barriers to trade to allow for the free movement of goods and services between countries.
A tax on imports.
Measures a country’s openness to trade. It’s the sum of X and M as a percentage of GDP.
When a country can produce and good or service more efficiently than another country.
When a country can produce a good or service at a lower opportunity cost than another country.
Free Trade
Trade Liberalisation
Comparative Advantage
Tariff
Trade Intensity
Absolute Advantage
Created by: SullyEconomics
Popular Economics sets

 

 



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