1. International Vocabulary Review

2. A tool used to limit trade between nations.
Specialization Exchange rate Embargo Trade barrier Tariff Free trade Quota Subsidy Standard Trading bloc Absolute advantage Comparative advantage

3. Ban on trade, used primarily for political purposes
Specialization Exchange rate Embargo Trade barrier Tariff Free trade Quota Subsidy Standard Trading bloc Absolute advantage Comparative advantage

4. A group of nations that come together to trade without barriers
Specialization Exchange rate Embargo Trade barrier Tariff Free trade Quota Subsidy Standard Trading bloc Absolute advantage Comparative advantage

5. An agreement to trade with little to no barriers
Specialization Exchange rate Embargo Trade barrier Tariff Free trade Quota Subsidy Standard Trading bloc Absolute advantage Comparative advantage

6. given the exact same resources, country A can produce more of a good than country B
Specialization Exchange rate Embargo Trade barrier Tariff Free trade Quota Subsidy Standard Trading bloc Absolute advantage Comparative advantage

7. Regulation imposed by the government on the quality of imports
Specialization Exchange rate Embargo Trade barrier Tariff Free trade Quota Subsidy Standard Trading bloc Absolute advantage Comparative advantage

8. Payments made by the government to domestic producers in order to induce the producer to do what the government wants
Specialization Exchange rate Embargo Trade barrier Tariff Free trade Quota Subsidy Standard Trading bloc Absolute advantage Comparative advantage

9. A tax imposed on imports to a country
Specialization Exchange rate Embargo Trade barrier Tariff Free trade Quota Subsidy Standard Trading bloc Absolute advantage Comparative advantage

10. A limit on the amount of goods that can be imported into a country
Specialization Exchange rate Embargo Trade barrier Tariff Free trade Quota Subsidy Standard Trading bloc Absolute advantage Comparative advantage

11. The value of one nation’s currency in terms of another nation’s
Specialization Exchange rate Embargo Trade barrier Tariff Free trade Quota Subsidy Standard Trading bloc Absolute advantage Comparative advantage

12. The act of focusing on one task and becoming an expert
Specialization Exchange rate Embargo Trade barrier Tariff Free trade Quota Subsidy Standard Trading bloc Absolute advantage Comparative advantage

13. given the same resources, country B produces good X at a lower opportunity cost
Specialization Exchange rate Embargo Trade barrier Tariff Free trade Quota Subsidy Standard Trading bloc Absolute advantage Comparative advantage