| A | B |
|---|
| Voluntary Trade | buyers and sellers choose to exchange goods or services |
| Specialization | countries focus on producing what they are best at and trade for what they need |
| Resources | the reason countries specialize...to focus on ? |
| Tariff | a tax placed on imported goods |
| Quota | a limit on the amount of a good that can be imported |
| Embargo | a government ban on trade with another country |
| Currency | needed to exchange goods or services |
| OPEC | controls the production and prices of oil among member countries |
| Global Economy | Is influenced by OPEC setting oil prices and controlling oil supply levels |
| Country Benefits | An example would be buying oil then selling technology to that same country |
