voluntary trade
Specialization and Trade Barriers

Flashcard
•
Social Studies
•
7th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
both parties freely agree to trade and benefit from exchanging goods and services
2.
FLASHCARD QUESTION
Front
any activity which slows or outright blocks the free exchange of goods and services
Back
trade barriers
3.
FLASHCARD QUESTION
Front
a trade barrier that places a tax on imported goods
Back
tariff
4.
FLASHCARD QUESTION
Front
services that can be produced most efficiently and cost effectively
Back
specialization
5.
FLASHCARD QUESTION
Front
Quota
Back
limit on imported goods
6.
FLASHCARD QUESTION
Front
Embargoes
Back
frequently used to punish rouge states and block all trade
7.
FLASHCARD QUESTION
Front
Which of the following trade barriers is a block or restriction on trade with another country: Tariff, Embargo, Quota?
Back
Embargo
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