Australia's Trade Links
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Created by:
RegionalHSIE Plus on October 10, 2011
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definitions
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15 terms
Terms | Definitions |
|---|---|
 international trade | the movement of goods and services from one country to another |
| globalisation | the process by which countries are becoming increasingly interconnected economically, politically and culturally |
| sovereignty | a country's power to govern its own affairs, make and enforce laws, and control the movement of people and goods across its borders |
| trade liberalisation | the removal of barriers to the free movement of goods and services |
| trading bloc | a group of countries that act in ways that assist the movement of goods and services between member states |
| primary products | agricultural goods and minerals accountant for a significant proportion of Australia's exports |
| protection | the imposition of duties or quotas on imports in order to protect domestic industry against foreign competition |
| tariff | a tax on goods imported. Its purpose is to raise the price of the goods concerned |
| quota | a limit on the amount of a good or service that can be imported or exported |
| embargo | a ban on the import or export of a specific product or service |
| quarantine restrictions | laws determining which goods can and cannot be imported into a country as well as the conditions for importation |
| customs valuation methods | used to determine the value of goods imported into the country. They determine the value of any customs duty that the importer is required to pay |
| national standards | rules specifying minimum health and safety standards that must be met for a product to be sold in a particular country |
| subsidy | a payment made directly or indirectly to a company or individual to make them more competitive |
| productivity | the output per worker per unit of time |
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