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economics Matching
trade barrier
a government policy or restriction that limits international trade
demand
the amount of a good or service that consumers are willing and are able to buy
scarcity
a limited supply of resources in comparison to unlimited wants and needs
imports
goods and services sold in a country that are produced in other countries
domestic trade
consumers and producers are located in the same country
mixed economy
an economy that combines elements of traditional, market, and command economic systems
tariff
a tax on imports and exports
developed country
a country with a strong economy and a high standard of living
market economy
an economy in which individual consumers and producers make economic decisions
free trade
the removal of trade barriers
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