4.3 Voluntary Trade: Specialization & Trade Barriers

One benefit of _______ is that it drives up the prices of foreign goods and makes local goods more affordable.

• tariff

• quota

• embargo

A limit on imported goods is _______.

• a tariff

• a quota

• an embargo

A stop or ban on imported goods from a country is ________.

• a tariff

• a quota

• an embargo

A tax on imported goods is _______.

• a tariff

• a quota

• an embargo

Trade is the 

• voluntary exchange of goods/services and benefits both sides 
• required exchange of goods/services 

A barrier is meant to 

• encourage the flow of trade
• block or slow down trade
• make people obey the government 

If a country limits the amount of an imported good, they are using a 

• embargo
• tariff
• quota

When a country refuses to trade with others it is participating in a trade ______

• tariff
• embargo
• quota

A tariff is a ______

• tax placed on imported goods
• a limit placed on imported goods
• a stop of all trade 

Why would a country impose a tariff or quota on imported goods?

• to raise the price of imported goods and encourage people to buy local
• to raise the price of imported goods to help other countries make more money
• to be mean!