| A | B |
|---|
| Specialization | The concentration of the productive efforet of individual and firms on a limiated number of activities |
| Exchange Rate | The value of foreign nation's currency in terms of the home nation's currency |
| Embargo | The partial or complete prohibition of commerce and trade with a particular country in order to stop it |
| Trade Barrier | A means of prevaenting a fireign product or service from freely entering a nation's territory |
| Tariff | A tax on imported goods |
| Quota | A limit on the quantity or a good that is being imported |
| Subsidy | A government payment that supports a business or market |
| Free Trade | A region where a group of countries has agreed to reduce or eliminate trade barriers |
| Standard | Requirements on the quality of a good or service |
| Trading Bloc | Set of countries that trade through an agreement without barriers |
