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SHMS 6th Grade Social Studies Vocab 4

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Term
Definition
trade barriers   Obstacles to trade. They make trade between two countries harder.  
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Taxes   A charge incurred by a citizen’s person, property, or activity for the support of government  
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Tariff   Taxes on imported goods. They raise prices on foreign imported goods, making locally made goods cheaper; therefore, they help local businesses.  
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Quotas   The limit the amount of foreign goods that may be imported in a given amount of time.  
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Embargo   When one nation refuses to trade with another nation.  
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North American Free Trade Agreement (NAFTA)   An agreement between the United States, Canada, and Mexico to remove all tariffs to increase trade between the three countries.  
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Currency   Something that is assigned value. It can be used to buy goods and services in a market. It is usually called money.  
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Colonization   the act of a country taking control of an area outside of its borders  
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Literacy   the ability to read and write  
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Budget   a plan for using money  
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Income   money earned  
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Credit   the ability of a customer to obtain goods or services before payment  
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