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CH 6 Globalization and Proctectionism
CH 6 Globalization and Proctectionism
6
Economics
Undergraduate 1
10/04/2011

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Cards

Term
protectionism
Definition

government policies to reduce or block imports

Term
tariffs
Definition

taxes on imported products. (imported products are more expensive, discouraging imports)

Term
import quotas
Definition

limits on the number of product that can be imported

Term
nontariff barriers
Definition

regulations meant to make imports more costly or difficult

 

(ex: hand inspection every product in every box by the king before the product can be imported)

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