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Encouraging Free Trade

Encouraging Free Trade. BCS-BE-8c. Describes the impact of international business activities on the local, state and national economics. Terms. 1. Free Trade. 2. Trade Alliance. 3. NAFTA. 4. EU. 5. ASEAN. Free Trade. f ew or no limits on trade between countries. Trade Alliance.

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Encouraging Free Trade

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  1. Encouraging Free Trade BCS-BE-8c. Describes the impact of international business activities on the local, state and national economics

  2. Terms 1. Free Trade 2. Trade Alliance 3. NAFTA 4. EU 5. ASEAN

  3. Free Trade few or no limits on trade between countries

  4. Trade Alliance several countries merging their economies into one huge market

  5. NAFTA North American Free Trade Agreement a trade agreement signed by the United States, Canada and Mexico that eliminated barriers of trade

  6. EU European Union a trade agreement signed by most European countries that eliminated barriers of trade

  7. ASEAN Association of Southeast Asian Nations a trade agreement signed by Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philipines, Singapore, Thailand and Vietnam that eliminated barriers of trade

  8. International Trade Barriers BCS-BE-8c. Describes the impact of international business activities on the local, state and national economics

  9. Terms 1. Protectionism 2. Trade Barriers 3. Quota 4. Tariff 5. Embargo

  10. Protectionism the practice of the government putting limits on foreign trade to protect businesses at home

  11. Trade Barriers restrictions to free trade imposed by government actions

  12. Quota when governments set a limit on the quantity of a product that may be imported or exported within a given period

  13. Tariff a tax that the government places on certain imported goods

  14. Embargo when a government stops the import or export of a product completely

  15. QUESTIONS?

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