Unit 3 EPF Exam Review

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Across
  1. 2. _______ Advantage is the ability of a country to produce more of a good than another country using the same resources
  2. 3. Group of European countries with unified trade policies
  3. 7. Worldwide integration of markets, culture, and trade
  4. 11. Taxes on imported goods
  5. 12. Total goods or services produced
  6. 13. No restrictions on trade between countries
  7. 15. A trade ______ is an official deal between countries to regulate trade
  8. 16. Limits on the quantity of a good that can be imported
Down
  1. 1. Government bans trade with a specific country
  2. 3. Goods or services sold from your country to another country
  3. 4. ________ Advantage is the ability of a country to produce a good at a lower opportunity cost than another country
  4. 5. Penalties imposed on a country to influence behavior
  5. 6. International organization regulating global trade rules
  6. 8. Goods or services purchased from another country into your country
  7. 9. Policies protecting domestic industries from foreign competition
  8. 10. Resources used to produce goods and services
  9. 14. __________ or USMCA is a North American trade agreement between the US, Canada, and Mexico