TRADE BARRIERS

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Trade is the 

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voluntary exchange of goods/services and benefits both sides 

Front

A barrier is meant to

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block or slow down trade

Front

If a country limits the amount of an imported good, they are using a 

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quota

Front

When a country refuses to trade with others it is participating in a trade ______

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embargo

Front

A tariff is a ______

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tax placed on imported goods

Front

Why would a country impose a tariff or quota on imported goods?

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to raise the price of imported goods and encourage people to buy local

Front

In 1962, the United States prohibited all imports and exports to and from Cuba. What is this action called? (Options: Tariff, Embargo, Quota)

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Embargo

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A tariff....

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Encourages people to buy goods made from their country.

Front

Japanese auto firms agree to limits set in Washington D.C., on the # of Japanese cars that may be sold in the U.S.

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Quota

Front

In 2010, China announced that it would impose and import a tax on American poultry of up 105.4 percent. What is this tax called? (Options: Tariff, Embargo, Quota)

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Tariff