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Chapter 15 Vocabulary (Entrepreneurship Ideas In Action)

AB
QuotaLimit on the amount of a product that can be imported into a country over a particular period of time.
Qualitative RestrictionStandard of quality an imported product must meet before it can be sold.
Life CycleDetermined by changes in the type of competition faced by a product.
TariffsTax on imports.
Market PenetrationIncreasing market share for a product or service within a given market in a given area.
Trade BarriersMethods for keeping foreign businesses from competing with domestic producers.
ImportsProducts and services that are brought in from another country to be sold.
ExportsProducts and services that are produced in one country and sent to another to be sold.
CultureThe set of customs, beliefs, and social attitudes that characterize a particular group of people.


Career Management Teacher
South Robeson High School
Rowland, NC

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