9 terms

Global Interdependence and Haiti's Economy Vocab

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Economy
A system of producing, distributing, consuming, and owning goods, services, and wealth.
debt
An amount owed to a person or a company for money borrowed.
free trade
Trade between countries without protective tariffs (taxes) or government interference.
global interdependence
When the whole world relies and depends on one another (ex. US and Haiti).
trade
An exchange of goods or services.
export
Sending out a product when trading (EXIT)
subsidy
a grant (money) paid by the government to a business
import
bringing in a product when trading (coming IN to a country).
economic embargo
BLOCK! Government order stopping all trade and delivery of goods and services.
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