International Trade

4. clue: A government tax on imported goods intended to raise their price and protect domestic producers.
6. clue: "Infant industry" — A protection argument that a new domestic industry deserves temporary support because it cannot yet compete. Write the term used for that protection measure.
10. clue: A physical limit on the quantity of a good that can be imported in a period.
11. The policy of minimizing barriers to trade so countries can specialize according to comparative advantage.

1. The negative effect where producers rely on protection and become inefficient — they lose _______.
2. A trade policy that uses both tariffs and quotas together to limit imports is often called a _______ measure.
3. phrase: When a country focuses on producing goods at lower opportunity cost than another. (two words)
5. clue: The term for payments or tax breaks that encourage domestic producers to export (opposite of import tariff effect).
7. Government action that raises domestic producer revenue by increasing domestic price of imported goods while generating government income — name the policy tool.
8. each puzzle below write the single best economic term or phrase. Each question is worth 1 mark.
9. scramble: "EDSBUYS" — A payment by government to domestic producers (or sometimes to exporters) to lower their costs.