Across
- 3. This trading bloc includes ten members from the Southeast Asian region.
- 4. A cessation of all trade with a certain country.
- 5. A tax on imported goods.
- 6. The world's oldest trading bloc.
- 11. Trade among members of this type of trading bloc is free of trade barriers.
- 13. This term refers to those willing and able to work but are unable to find a job.
- 16. Newly established industries that are not yet able to compete in international markets.
Down
- 1. Falling average costs as output expands.
- 2. Members of this type of trading bloc remove trade barriers on a certain group of products.
- 7. This trading bloc is made up of USA, Canada and Mexico.
- 8. Situation in which the goods coming in or out of a country are not controlled or taxed.
- 9. When a country's imports exceed her exports.
- 10. Rich and successful countries are known by this term.
- 12. A famous European trade bloc founded in the aftermath of the Second World War.
- 14. This takes place when a firm sells large quantities of a product at a price below the cost of production in a foreign market.
- 15. A physical limit on the quantity of a good allowed to enter a country.