Unit 2B Vocabulary Quiz Review

a refusal to purchase a good/service from a specific company or country

• specialization

• voluntary trade

• boycott

• embargo

focusing on a narrow range of products or services that can be produced most efficiently and cost-effectively

• specialization

• voluntary trade

• boycott

• embargo

trade in which both partners freely agree to and benefit from the exchange of goods/services

• specialization

• voluntary trade

• boycott

• embargo

a trade barrier which blocks all trade with another nation

• specialization

• voluntary trade

• boycott

• embargo

the act of economically punishing another nation

• quota

• sanction

• tariff

• trade barrier

a trade barrier that places a limit on imported goods

• quota

• sanction

• tariff

• trade barrier

any activity which slows or outright blocks the free exchange of goods/services between nations

• quota

• sanction

• tariff

• trade barrier

a trade barrier which places a tax on imported goods

• quota

• sanction

• tariff

• trade barrier

a common currency of most European Union member states

• currency

• currency exchange

• Euro

• exchange rate

a nation's money

• currency

• currency exchange

• Euro

• exchange rate