When a country exports more than it imports, it has a trade _________.

• surplus

• balance

• deficit

• excess

When a country produces a particular good better than another country, it is said to have a/an?

• comparative advantage

• global advantage

• competitive advantage

• national advantage

Protectionism refers to putting ______ on foreign trade to protect businesses.

• limits

• embargos

• quotas

• tariffs

A quota is an example of a(n) ______ .

• trade barrier

• tariff

• trade alliance

• embargo

______ occurs when there are few or no limits on trade between countries.

• Free Trade

• Globalization

• Limited Competition

• Protectionism

______ usually are used for political or military reasons.

• Embargos

• Tariffs

• Trade barriers

• Quotas

NAFTA combines the economies of what three countries?

• Mexico, Canada, United States

• Canada, United States, England

• Mexico, Texas, Canada

• United States, England, Australia

A quota limits the quantities of a product that can be ______ .

• imported

• sold

• exported

• produced

A(n) ______ is a tax placed on imports

• tariff

• embargo

• quota

• levy

______ is not an example of a trade alliance.

• NATO

• ASEAN

• NAFTA

• EU