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8 Cards in this Set
- Front
- Back
Protectionism |
Government Policies to reduce or block imports |
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Tariffs |
Taxes imposed on imported products |
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Import Quotas |
Numerical Numerical limitations on the quantity of products than can be imported. |
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Nontariff Barriers |
All the ways a nation can draw up rules, regulations, inspections, and paperwork to make it more difficult to import products. |
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Infant Industry Arguments |
An argument to block imports for a short time, to give the infant industry time to mature, before eventually it starts to competing on equal terms in the global economy. |
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Dumping |
Selling internationally traded goods below their cost of production. |
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Anti-dumping laws |
LAws that block imports sold below the cost of production and impose tariffs that would increase the price of these imports to reflect their cost of production. |
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Race to the Bottom |
When production locates in countries with the lowest environmental (and other) standards, putting pressure on all countries to reduce their environmental (and other) standards. |