Trade Quiz 3.0 / 5 based on 1 rating ? GeographyGeographyOtherNone Created by: eleniblackCreated on: 14-05-16 07:27 What is a tarrif? A tax on imported goods/service 1 of 12 What is a bilateral trade agreement? An agreement between two countries 2 of 12 What is an export? Good or service sold to another country 3 of 12 What is a trade surplus? When a country's exports are greater than imports 4 of 12 What is an embargo? A ban on an imported good/service 5 of 12 What is a import? Good/service bought from another country 6 of 12 What is a subsidy? A grant of money given to a producer 7 of 12 What is a multilateral trade agreement? An agreement between three or more countries 8 of 12 What does APEC stand for? Australia-Pacific Economic Co-opertation 9 of 12 What does WTO stand for? World Trade Organisation 10 of 12 What is a quota? A limit on an importable good/service 11 of 12 What is a trade deficit? When a country's imports are greater than exports 12 of 12
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