Chapter 6 Definitions Flashcards
(7 cards)
1
Q
Protectionism
A
restrict and incent to help domestic companies compete
2
Q
Ad Valorem Duty
A
tariff based on % of value
3
Q
Tariff
A
a “tax” on imports; often retatliation
4
Q
Embargo
A
block imports; typically political driven; “punish”
5
Q
Quota
A
specific amount of imports; typically “industry” managed to keep gov’t out
6
Q
Subsidy
A
gov’t funds to aid; often avoids retaliation; but difficult “right choice”
7
Q
Dumping
A
pricing below cost and/or normal price; difficult proof
