Voluntary Trade

Limits on the amount of a good that can be imported into a country.

• Embargo

• Trade

• Quota

• Tariffs

Political barrier on trade. Refuse to trade with a country

• OPEC

• Specialization

• Barriers

• Embargo

Organization of Petroleum Exporting

• Tariff

• Quota

• OPEC

• Exchange Rate

Taxes placed on imported goods

• Embargo

• Tariff

• Specialization

• Quota

Something that is assigned value and can be used to purchase goods and services in a market

• Specialization

• Currency Exchange

• OPEC

• Function

_________ in what they do best

• Specialization

• Barrier

• Tariff

• Quota