Voluntary Trade and the Silk Road

This is a tax placed on imported goods.

• Tariff

• Quota

• Embargo

• Trade Barrier

This is a limit placed on imported goods.

• Tariff

• Quota

• Embargo

• Trade Barrier

These are natural or man-made obstacles to voluntary trade.

• Tariff

• Quota

• Embargo

• Trade Barrier

This is when nations refuse to trade with a country at all.

• Tariff

• Quota

• Embargo

• Trade Barrier

This occurs when different countries choose to engage in the exchange of goods with one another.

• Specialization

• Voluntary Trade

• Currency

• Currency Exchange

When money from one country must be converted into the currency of another country to pay for goods in that country.

• Specialization

• Voluntary Trade

• Currency

• Currency Exchange

What does OPEC stand for?

• Organization of Petroleum Excelling Countries

• Oil Producing of the Equilibrium Countries

• Organization of Petroleum Exporting Countries

• Oil, Petroleum, and Excellent Countries

Tariff, Quota and embargo are all examples of a

• trade barrier

• specialization

• currency exchange

• economic system

Who was the European who travelled the Silk Road writing detailed journals along the way?

• Jesus Christ

• Julius Caesar

• Marco Polo

• Qin Shi Huangdi

What region of the world did the trade good silk come from?

• China

• Middle East

• Mediterranean Basin

• India