Common Assessment Review

money that is used within a specific area or country

• exchange

• currency

• Euro

• Eurozone

• exchange rate

trading one thing for another

• exchange

• currency

• Euro

• Eurozone

• exchange rate

What does international trade between countries with different currencies require?

• A translator

• A map

• A shipping port even in landlocked countries

• A way to exchange currencies

Why do countries set-up trade barriers?

• the country is poor so they cannot afford to buy anything

• they are mean

• because they are short of workers

• to restrict trade because they want to produce their own goods and sell them in their own country

What is another name for a tax placed on imported goods?

• demand

• tariff

• supply

• more money

Goods and services a country produces and sells to other countries

• imports

• exports

• demand

• supply

Goods and services brought in from other countries

• supply

• exports

• imports

• tariff

A limit to the number of imports that may enter a country

• tariff

• embargo

• demand

• quota

A government order stopping trade with another country

• tariff

• embargo

• quota

Rules used to try to limit trade with other countries

• embargo

• tariff

• trade barriers

• quota