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GBHS- geog- CH20- JH

GBHS- Chapter 20- Trade Connections

What is chapter 20 about? Trade Connections
What are linkages? They occur whenever places are connected by the movement of people, goods, or information.
What is global economy? the links between Canada and the rest of the world.
What is imported fuel? Fuel that comes into Canada from another country.
What is exported fuel? Fuel from Canada sent to another country.
Goods from another country are called Imports
goods are sent to another country are called Exports
What is tariff? A duty or tax placed on goods.
What is free trade? A reduction or elimination of tariffs and quotas on exports and imports.
What is trading bloc? A group of countries that share lower tariffs and special trading privilages.
What is North American Free Trade Agreement? An agreement to eliminate trade restriction between Canada, The US, and Mexico.
What is quota? A limit placed on the number or value of products being imported into a country; in immigration, a figure set annually a a target number of immigrants.
What is economy of scale? The lower cost per unit that results from mass production of a product.
Created by: Jamie Howie