Chapter 8

Front

a limit on the quantity of a good that can be imported

Back

quota

Front

a tax that is placed on goods brought into one country from another

Back

tariff

Front

a good or service brought into one country from another

Back

import

Front

focusing on efficiently producing a limited number of goods and services

Back

specialization

Front

the ratio used to determine how much of one currency can be exchanged for an equal value of another currency

Back

exchange rate

Front

any regulation or policy that restricts international trade, especially tariffs, quotas, or embargos

Back

trade barriers

Front

a system of money in use in a particular country

Back

currency

Front

a ban on trade with a specific nation or group of nations

Back

embargo

Front

a good or service sold to another country

Back

export

Front

the exchange of goods and services between many countries of the world

Back

global trading