Econ Vocab
Flashcard
•
History
•
6th Grade
•
Practice Problem
•
Hard
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13 questions
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1.
FLASHCARD QUESTION
Front
Value of one country's currency in terms of another's:
Back
exchange rate
2.
FLASHCARD QUESTION
Front
Anything that hinders the exchange of goods/services between countries is called...
Back
a trade barrier
3.
FLASHCARD QUESTION
Front
"Punishing" another country (e.g., USA not buying sugar from Haiti in the early 90s due to government treatment of people):
Back
sanction
4.
FLASHCARD QUESTION
Front
Type of trade barrier with a special tax on imported goods:
Back
tariff
5.
FLASHCARD QUESTION
Front
Countries agree to trade:
Back
voluntary trade
6.
FLASHCARD QUESTION
Front
Type of trade barrier that halts all trade due to government disagreements or illegal activities.
Back
embargo
7.
FLASHCARD QUESTION
Front
Focus on producing specific goods quickly and cheaply (e.g., Germany's automotive industry).
Back
specialization
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