Trade Barriers, Specialization and Currency Exchange

Trade Barriers, Specialization and Currency Exchange

Poll

Were you in class on Thursday and/or Friday?

• Yes, and I did the economic matching game.

• yes but did not complete the economic matching game

• No, I was not in class

Multiple Choice

What is Specialization?

• Making everything a country can possibly make

• Making only what a country can efficiently and cost effectively make.

Multiple Select

Which of these are man made trade barriers?

• Quota

• Volcano

• Desert

• Embargo

• Tarriff

Multiple Choice

What is a quota?

• A government order to stop trade.
• A limit placed on imports.
• A tax placed on imports.

Multiple Choice

What is an embargo?

• A government order to stop trade.
• A limit placed on imports.
• A tax placed on imports.

Multiple Choice

What is a tariff?

• A government order to stop trade
• A limit placed on imports
• A tax placed on imports