AE1-M2-REVISION

A/An _____ is characterized by the absence of tariffs, taxes, licensing requirements, subsidies, etc.

• regulation

• protected market

• restriction

• open market

_____ is a situation in which goods come into and out of a country without any tariffs or subsidies.

• Deregulation

• Customs

• A restriction

• Free trade

Countries which truly believe in free trade try to liberalise their trade; they take away _____ to trade.

• quotas

• tariffs

• subsidies

• barriers

_____ are limits on the quantity of goods that can be imported into a country.

• Regulations

• Restrictions

• Tariffs

• Quotas

When companies _____ goods in overseas markets, they sell goods at very low prices, usually for less than the producing cost.

• export

• import

• trade

• dump

The worldwide movement toward economic, financial, trade, and communications integration is referred to as _____.

• privatisation

• liberalisation

• deregulation

• globalisation

In the process of liberalization, Finnair is developing a foreign _____ at Stockholm, a central point to and from which flights go to final destinations.

• code-share

• slot

• alliance

• hub

_____ is the rivalry between businesses in the same market, where prices are free to move according to the forces of supply and demand.

• Price war

• Free Pricing

• Dumping

• Open competition

There is definitely a movement within the European Union _____ airline regulations.

• liberalisation

• liberalise

• liberalised

• to liberalise

The gate _____ an airline operating services to and from a given airport is called a slot.

• allocate to

• be allocated to

• allocating to

• allocated to