Economics Revew #2

Goods/services originating in one’s own country as opposed to internationally

• Subsistence

• Domestic

• Wages

• Labor

    Wages for workers and any other technology, tools, machines that a company must pay for to run the company

• human capital

• physical capital

• technology

• land

When 2 countries trade freely to benefit from exchange of goods/services.  (not forced/coerced)

• barter

• subsistence

• voluntary trade

• trade barrieres

Giving knowledge and training to workers to earn an income and produce goods and services

• human capital

• physical capital

• domestic capital

• barter

a trade barrier that puts a limit on goods that can be brought into a country in a given amount of time.

• Embargo

• Tariff

• Quota

• Physical barrier

When products are shipped out of a country in a trade deal

• domestic

• exports

• imports

• international

material found naturally on the Earth that is used for economic gain by a country

• domestic resources

• human capital

• physical capital

• natural resources

When one country economically punishes another country by not trading with them.

• Tax

• Tariff

• Quota

• sanction

When a country brings products in from another country.

• Exports

• intrdependence

• Quota

• imports

When one country refuses to purchase something from another country because of humanitarian or safety concerns.

• embargo

• quota

• tariff

• trade barrier