Trade Barriers

Goods and services a country produces and sells to other countries

• imports

• exports

• demand

• supply

Goods and services brought in from other countries

• supply

• exports

• imports

• tariff

A tax on imports

• tariff

• import tax

• supply

• embargo

A limit to the number of imports that may enter a country

• tariff

• embargo

• demand

• quota

A government order stopping trade with another country

• tariff

• embargo

• quota

Rules used to try to limit trade with other countries

• embargo

• tariff

• trade barriers

• quota

Which is an example of a quota?

• The U.S. stops trade with China.

• The U.S. limits the amount of foreign cars brought into our country.

• The U.S. pays a high tax on BMW cars brought into the country.

Which is an example of a tariff?

• Japan is allowed to send as many electronic products to the U.S. as they want.

• The U.S. freely trades with other countries with no restrictions.

• A high tax is placed on all diamonds received from Africa.

Choose an example of an embargo

• The U.S. government stops all trade with China.

• Canada and the U.S. have no restrictions on trade.

• Ukraine adds an extra fee on imported goods which increases the price of the good.

The price of one nation’s currency in terms of another nation’s currency

• tariff

• embargo

• quota

• exchange rate