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Group 7: Global Trade

Teacher: Economics
Across
A tax on imported goods
Refers to the opportunity cost paid to make a decision.
A means of preventing a foreign product or service from freely entering a nation's territory.
The difference in total value between payments into & out of a country over a period.
The ability to produce a product most efficiently given all the other products that could be produced.
The use of trade barriers to protect a nations industries from foreign competition.
The study of the economic behavior & decision making of the entire economics.
Down
Agreement that will eliminate all tariffs & other trade barriers between Canada, Mexico, & the U.S.
international trade left to its natural course without tariffs, quotas, or other restrictions.
The ability to produce more of a given product using a given amount of resources.
A limit on the amount of a good that can be imported.
An economic side effect of a good or service that generates benefits or costs to someone other than the person deciding how much to produce or consume.
The value of a foreign nation's currency in terms of the home nation's currency.
The study of the economic behavior & decision making of small units.