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9 Cards in this Set
- Front
- Back
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___ _____ is when a country tries to produce all the goods the country needs without the help of other countries.
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Economic self-sufficiency
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A ____ is people of businesses needed to buy a product.
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market
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______ are goods we ships to other countries.
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Exports
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______ are goods we buy from other countries.
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Imports
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How do countries measure international trade?
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The amount of money they spend on imports and the money they receive from exports.
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What is the balance of trade for a country?
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The difference between the money they spend on imports and they money they make on exports.
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_____ are taxes on imports and exports.
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Tariffs
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___ is a ban on something being import into the country.
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Embargo
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What are two tools used by countries to wage trade wars?
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1. tariffs
2. embargo |
