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5 Cards in this Set

  • Front
  • Back
comparative advantage
the situation where a country can produce a good at lower opportunity cost than another country can.
tariff
a tax on imports
quota
a legal limit on the amount of a good that may be imported
dumping
the sale of goods abroad at a price below their cost and below the price charged in the domestive market
"vluntary" export restraint
an agreement between 2 countries in which the exporting counrty "volunatiryl" agress to limit its exports to the importing country