ENM301 - UNIT 9

A situation in which goods come into and out of a country without any controls or taxes.

• protected trade

• free trade

To give money to a company or industry to make a product cheaper to buy or produce.

• subsidise

• import

• customs

The removal or reduction of government controls on a particular business activity.

• quotas

• deregulation

• tariff

When exported goods are sold at a lower price than in the home market or for less than their production cost

• dumping

• quotas

• tariff

4. They separate countries and can make trade more difficult.

• markets

• laissez-faire

• borders

5 Government department responsible for collecting taxes on goods.

• deregulation

• customs

• strategic industries

Limited numbers or amounts that are officially allowed.

• tariffs

• quotas

• dumping

8.Taxes paid on goods coming into or going out of a country.

• tariffs

• quotas

• subsidy

A general word which covers all things which stop people trading freely.

• Laissez-faire

• free port

• controls or protectionism

What are advantages of free trade? Tick all that are correct.

• Promote higher standards of living, working conditions

• Create unemployment and lead to job losses in richer countries

• Widen the gap between rich and poor countries

• Increase competition and improve the choice of goods and services

• Reduce poverty and increase wealth