Globalization

What is a tariff?

• A tax or charge to be paid on a particular good or service being brought in or sold out of a country.

• The costs or sacrifices that are given for making certain business or political decisions.

• To bring (goods or services) into a country from another country for sale.

• To send (goods or services) to another country for sale.

An economic benefit is

• To send (goods or services) to another country for sale.

• The costs or sacrifices that are given for making certain business or political decisions.

• A benefit gained from making certain business or political decisions usually described in the increase of money.

• To bring (goods or services) into a country from another country for sale.

An economic cost is

• A benefit gained from making certain business or political decisions usually described in the increase of money.

• A tax or charge to be paid on a particular good or service being brought in or sold out of a country.

• The costs or sacrifices that are given for making certain business or political decisions.

• To bring (goods or services) into a country from another country for sale.

What is an import?

• To send (goods or services) to another country for sale.

• A sum of money granted by the government to assist an industry or business so that the price of a good or service may remain low or competitive.

• A benefit gained from making certain business or political decisions usually described in the increase of money.

• To bring (goods or services) into a country from another country for sale.

What is an export?

• To bring (goods or services) into a country from another country for sale.

• To send (goods or services) to another country for sale.

• The costs or sacrifices that are given for making certain business or political decisions.

• A sum of money granted by the government to assist an industry or business so that the price of a good or service may remain low or competitive.

What is globalization?

• The way countries and people of the world interact and integrate economically, politically and socially and can have both benefits and costs for a nation.

• To send (goods or services) to another country for sale.

• A sum of money granted by the government to assist an industry or business so that the price of a good or service may remain low or competitive.

• The costs or sacrifices that are given for making certain business or political decisions.

Businesses having to close due to the COVID-19 pandemic is an example of

• tariff

• import

• export

• globalization

An American farmer selling soybeans to China is an example of an

• import

• export

• tariff

• economic cost

Having to pay a tariff on soybeans sold in China is an example of

• an economic benefit

• import

• economic cost

• farm equipment

The United States selling computers to another country is an example of an

• import

• tariff

• economic cost

• export