International Trade Final Project

International Trade is the exchange of goods and services between.....

Nothing hinders or gets in the way of trade between two countries is called...

• Trade Barriers

• Free Trade

• Trade Restrictions

• Trading Blocks

Which ones are costs of free trade?

• Total world output of sales is increased

• Less money in the domestic market may cause business to lay off workers

• Increased competition means lower prices

• More variety of goods from a word market

Which one is NOT a trade restriction?

• Tariffs

• Quota

• EU

• Embargoes

Which trade restriction is this? This policy reduces costs for producers, often to promote exports to other countries.

• Subsides

• Quotas

• Embargoes

• Standards

What does ASEAN stands for?

• European Union

• Association for Southeast Asian Nations

• North American Free Trade Agreement

Which one is a benefit of a trade barrier?

• Protect homeland industries from competition

• Protect jobs

• Extra income for the government

• All of the Above

When the currency (dollar) is strong it

When the currency (dollar) is weak it

Import means

• buying goods from another country
• selling goods to another country
• only making one kind of product