Level 11
Level 12

Macroeconomics Schedule E: International Trade


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Tariff
a tax on imports
Quota
A limit on imports
Occupational immobility of labour
Difficulty of moving from one type of job to another
Protectionism
The protection of domestic industries from foreign competition
voluntary export restraint
a limit placed on imports from a country with the agreement of that country's government
Embargo
A ban on the export or import of a product and/or a ban on trade with a particular country.
International Monetary Fund
An international organisation that helps co-ordinate the international monetary system.
World Trade Organisation
an international organisation that promotes free international trade and rules on international trade disputes