Economics Definitions

1. - A benefit usually in the form of a cash payment or tax reduction
7. - Used to restrict trade and a tax on imported goods
8. - Concentrates its productive efforts on producing a limited variety of goods
9. - Restricts trade to either a certain country or good
10. - Free trade in Mexico, Canada and United States (no tariffs)
12. - Policy of restraining trade between states (countries)through tax
13. Barrier - A government-imposed restraint on the flow of international goods or services

2. of Labor - Important for mass production (more efficient)
3. - Join a trading network to gain products they could not produce themselves
4. - A financial penalty often a: trade barrier, tarrifs or restrictions on financial transactions
5. - Are used in international trade to help regulate the volume of trade between countries.
6. - Predatory Pricing
11. - Free Trade amongst the USA and 11 other Pacific Rim Economies