2.2 Trade barriers
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10 Terms
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Trade barriers
________ exist when countries have different standards for the way products are used or how they perform.
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foreign competition
The theory or practice of shielding domestic industries from ________, often through trade barriers such as tariffs.
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Canada
Its purpose is to ensure that all forward Investments are reviewed to determine how they will benefit ________.
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Time zones
________ are another barrier to international trade.
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Difference
________: extra revenue generated by a tariff goes to the domestic government.
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World Trade Organization
The ________ oversees the rules of global trade.
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trade quota
A(n) ________ is a government- imposed limit on the amount of product that can be imported in a certain period of time.
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Difference
extra revenue generated by a tariff goes to the domestic government
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Trade embargoes
Completely Banning trade between two countries
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Trade Sanctions
Limiting trade of specific products or with specific companies or individuals
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