I&S Vocabulary

An economic system where supply and demand drive economic decisions and pricing.

Taxes imposed on imported goods and services.

Limits on the quantity of a product that can be imported or exported.

Official bans on trade or other commercial activity with a particular country.

An economic system rooted in customs, history, and time-honored beliefs.

United States-Mexico-Canada Agreement, a trade deal between the three countries.

An economic system where the government makes all decisions regarding the production and distribution of goods and services.

Gross Domestic Product, the total value of goods produced and services provided in a country during one year.

The percentage of people who are able to read and write in a given population.

Goods used in the production of other goods, rather than being bought by consumers.