Unit 4 International Trade Vocab

_________________________________________ are laws passed or actions taken by the government of a country with the intention of restricting the flow of goods and services between itself and another country or countries.

Government payments transferred to exporting countries allowing the companies to compete with other nations  is called _______________________.

______________________ limits the quantity of goods imported into a country.

When one producer has the lowest opportunity cost in production than other producers is called __________ ____________________________.

______________ is a tax placed on goods imported into the country.

A price of one nation’s currency expressed in terms of another nation’s currency is _________________________________.

An increase in the value of a currency relative to another is ___________________________.

_____________________________ is when one entity can either produce more overall output with given inputs, or use less overall inputs to produce a given output. 

__________________________________ is the purchase of an asset by a company in a different country.

Unrestricted flow of goods, services, and productive resources between countries is called ________________________________.