| A | B |
|---|
| Tariff | A tax on imports |
| Quota | A limit on imports |
| Embargo | A ban on imports |
| Trade barrier | A restriction on trade |
| Free trade | Having no trade barriers |
| NAFTA | Got rid of trade barriers between Canada, Mexico, and the U.S. |
| GDP | The value of all goods and services in a country for a year |
| Export | An item that exits or leaves the country |
| Import | A product or item that comes into the country |
| Currency | Another word for money |
| Barter | Another word for trade |
| Interdependence | When countries rely on each other for good, services, products, and resources |
| Globalization | Growing trade which makes countries more like each other |
| Specialization | Having a specific resource or making a specific product |
| EU | European Union |
| Market | Economic system where individual sna businesses make all decision, consumers have choices, and prices are determined by supply and demand |
| Command | Economic system where the government controls everything |
| Traditional | Economic system with no money, no banks, and no businesses |
| Mixed | Economic system with some government regulation and some decisions made by businesses and individuals |
| Euro | The currency (or money) of most European countries |
