Column 1 is a list of terms used in international trade - Leaving Cert Business - Question 15 - 2018
Question 15
Column 1 is a list of terms used in international trade. Column 2 is a list of explanations for these terms.
Match the two lists by placing the letter of the correct... show full transcript
Worked Solution & Example Answer:Column 1 is a list of terms used in international trade - Leaving Cert Business - Question 15 - 2018
Step 1
1. Trading Bloc
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Answer
E. A group of countries that trade freely with each other – there are no barriers to trade between these countries.
Step 2
2. Regulation
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A. A European Union law which must be implemented in each EU country immediately.
Step 3
3. Embargo
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F. A ban on a particular product being imported into a country.
Step 4
4. Quota
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B. A limit to the amount of a particular product which can be imported into a country.
Step 5
5. Tariff
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D. A tax on imported goods and services.
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