Trade Barriers

Which country is it hardest to start a business in?

• Russia

• United Kingdom

• Germany

• Spain

What is a tariff?

• Tax on imported goods

• To stop trading with a business or country

• A limit on imported goods

In 1962, the United States prohibited all imports and exports to and from Cuba.

• Tariff
• Embargo
• Quota

What is an embargo?

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

Japanese auto firms agree to limits set on the number of Japanese cars that may be sold in the U.S.

• Embargo

• Quota

• Tarriff

• Standard

Countries set up __________ to restrict trade because they want to sell and produce their own goods.

• imports

• trade barriers

• markets

• factories

When someone or a business chooses to produce certain items that they are good at producing.

• Entrepreneur

• Economics

• Voluntary Exchange

• Specialization

The total value of goods and services in a country.

• GDP
• subsidy
• import
• embargo

I am a farmer in Africa, and have always bartered for my goods.  I have a _____ economy. 

• Traditional 
• Command 
• Market
• Mixed

In this type of economy, the individual decides who to sell their products to.  

• Traditional 
• Mixed 
• Market
• Command