Ch 12 - key term part 2

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  • Created by: angus f.v
  • Created on: 22-10-14 11:44
Balance of trade or visible balance
The difference between visible exports and visible imports
1 of 13
Devaluation
The depreciation or fall in the value of a currency
2 of 13
Exchange rate
The price of one currency in terms of another
3 of 13
Exports
Goods and services sold overseas
4 of 13
Free trade
Trade between nations that is completely without government restrictions
5 of 13
Imports
Goods and services being sold over the border or overseas
6 of 13
Invisible trade
Trade in services
7 of 13
Visible Trade
Trade in physical goods
8 of 13
Protectionism
An approach used by a goverment to protect domestic producers
9 of 13
Quota
A physical limit on the quantity of imports allowed into a country
10 of 13
Subsidy
Finical support given to a domestic producer to help compete with firms over the border or overseas
11 of 13
Tariff
A tax on imports to make them more expensive
12 of 13
Trade barriers
Measures designed to restrict trade
13 of 13

Other cards in this set

Card 2

Front

The depreciation or fall in the value of a currency

Back

Devaluation

Card 3

Front

The price of one currency in terms of another

Back

Preview of the back of card 3

Card 4

Front

Goods and services sold overseas

Back

Preview of the back of card 4

Card 5

Front

Trade between nations that is completely without government restrictions

Back

Preview of the back of card 5
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