12 terms

Trade Barrier

STUDY
PLAY
Quota
AFree control on the amount of a product that can be imported into a country
Tariff
Tax on imported goods
Embargo
A ban on trade
Standard
A specific requirement that stops or restricts the sale of any product that does not meet certain specifications. Ex. car emissions
World Trade Organization
Administers the rules governing trade between its 144 members. Helps producers, importers, and exporters conduct their business and ensure that trade flows smoothly.
Currency
A nations money
Free Trade
Removing trade barriers so that goods flow freely among countries
Export
Commodities (goods or services) sold to a foreign country
Import
Commodities (goods or services) bought from a foreign country) bought from a foreign country
Emigrate
To leave one country or region and settle in another
Immigrate
To move permanently to a new country
North American Free Trade Agreement
An agreement between the United States, Mexico and Canada to lower trade barriers
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