Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
10 Cards in this Set
- Front
- Back
|
to sell good to other countries ; or a good produced in one country , then sold to another
|
export
|
|
|
a good purchased from one country by another
|
import
|
|
|
the abilit of a country to produce a good at a opportunity cost than another country can
|
comparative advantage
|
|
|
a customs duty; a tax on an imported good
|
tariff
|
|
|
a limit on the amount of foreigh god imported into a country
|
quota
|
|
|
policy of reduced trade barries
|
free trade
|
|
|
organization of eeuropean nation whose goal is to encourage ecourage economic integration into a single market in europe
|
european union
|
|
|
the price of one nation's currency in terms of anther nation currency
|
exchange rate
|
|
|
the difference between the the calue of a nation 's exports and ts imports
|
balance of trade
|
|
|
situation in which the value of the products imported by a country exceeds the value of its imports
|
trade deficit
|
