Economic Systems and Trade Barriers Review

The United States has recently found out that Cuba is not honoring the promise made in the delivery of coffee beans. The United States has decided to block all trading with Cuba. What trade barrier is this an example of?

• Tariff

• Quota

• Embargo

A trade barrier that taxes certain imported or exported goods is the definition to what term below?

• Tariff

• Quota

• Embarga

Keep products from being bought and sold between countries.

• Tariff

• Quota

• Embargo

• Trade Barriers

A trade barrier that limits imported goods is called what?

• Tariff

• Quota

• Embargo

Panama added a new tax on all sugar products from Columbia. What trade barrier is this an example of?

• Tariff

• Quota

• Embargo

Brazil restricted all imports of aluminum from Canada. This is an example of what kind of trade barrier?

• Tariff

• Quota

• Embargo

Cuba enforced a limit of knit fabric imports from China. This is an example of what type of trade barrier?

• Tariff

• Quota

• Embargo

An economic system that is controlled by the government matches what term below?

• Market Economy

• Command Economy

• Traditional Economy

An economic system that is based on supply-and-demand is called what term below?

• Market Economy

• Command Economy

• Traditional Economy

An economic system that is based off of customs and beliefs is called what term below?

• Market Economy

• Command Economy

• Traditional Economy