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Trading Barriers in the Middle East

SS7E6: The student will explain how voluntary trade benefits buyers and sellers in S.W. Asia.
by

RICARDO BROWN

on 16 February 2015

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Transcript of Trading Barriers in the Middle East

Specialization
Is what a person or a country specializes in producing of goods or services.
Tariff
Tax on imports from other countries.
Government-induced restriction on international trade for a country.
Quota
A specific limit placed by the government on a number of imports that may enter a country.
Embargo
A ban placed by the government prohibiting the departure of commercial ships from a port.
OPEC
Organizational Petroleum Exporting Countries: Countries that produce and export oil; they set the price and production of oil.
Currency

Exchange: the money used to purchase goods or services; when traveling overseas one must
EXCHANGE
their funds in order to shop on that country's market using thier type of
currency
.
Trading Barriers in the Middle East
Trade Barriers
SS7E6: The student will explain
how voluntary trade benefits buyers
and sellers in S.W. Asia.
Full transcript