CIE economics unit:Globalization and Trade
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| show | When one country refuses to trade with another country; an official ban on trade or other commercial activity with a particular country
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| Quota | show 🗑
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| Tarrif | show 🗑
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| show | Goods going out of a country
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| show | When a country produces a particular good or service
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| Import | show 🗑
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| Import quota | show 🗑
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| Protectionism | show 🗑
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| show | The value of a nation's currency in relation to your another nation's currency.
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| show | the result of a nation exporting more than it imports.
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| show | Sometimes governments will require a license to sell goods in that country, use health and safety regulations and requirements, use tariffs, or set import quotas
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| Free trade | show 🗑
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| show | the theory or practice of shielding a country's domestic industries from foreign competition by taxing imports or limiting international trade
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| show | when a country that can produce more quantity or quality of a certain product than another country with the same resources (more efficient use of resources than another country)
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| show | when a country can produce a produce at a lower opportunity cost than another country (more efficient use of resources within the same country)
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| show | an intergovernmental organization that organizes the rules of international trade; coordinates tariffs and other trade policies of more than 150 member nations and mediates trade disputes between member nations
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| Trade surplus | show 🗑
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| show | when a country imports more than it exports
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| Why is it NOT always good to have a trade surplus or bad to have a trade deficit? | show 🗑
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| show | a tax on imported goods designed to raise money for the government; can be thought of as a charge for access to a country's citizens/customers
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| Protective tariff | show 🗑
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| Strong currency / Strong Dollar | show 🗑
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| Weak currency / Weak Dollar | show 🗑
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| show | When a nation's currency is always a certain percentage of another nation's currency (e.g. Saudi Arabia's currency is "pegged" to the US dollar). The currency's become stronger or weaker in parrallel
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| show | When a nation's currency is valued according to global supply and demand for that currency
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Or sort by any of the columns using the down arrow next to any column heading.
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Created by:
sfoston
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