Specialization and Trade Barriers

Specialization and Trade Barriers

Assessment

Flashcard

Social Studies

7th Grade

Hard

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20 questions

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1.

FLASHCARD QUESTION

Front

voluntary trade

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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