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5 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Free Trade |
International trade in which government of a country do not impose any restriction on the trade. |
No restriction |
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2 advantages of free trade |
Increased exports Increased competitionwh |
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What is Protectionism |
Protection of domestic industries from international competition |
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What is the world's 2 largest national economies |
China and United States |
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Define Tariff |
Tax imposed on certain types of imported good to enter a country. Can important source of state revenues. |
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