Micro Unit 2.9 CW-1: Barriers to Trade (Vocab Matching)

a worldwide organization whose goal is freer trade and lower tariffs

agreement that eliminated all tariffs and other trade barriers between Canada, Mexico, and the United States

a regional trade organization made up of European nations

an economic conflict often resulting from extreme protectionism, in which states raise or implement tariffs or other trade barriers

a limit on the amount of a good that can be imported

the ability of one person or nation to produce a good at an opportunity cost that is lower than that of another person or nation

The ability of a country to produce more of a good with the same resources than another country.

the use of trade barriers to protect a nation's industries from foreign competition

a good that is sent to another country for sale