Factor that Encourage and/or Hinder Voluntary Trade

Tariff

• A tax or a duty to be paid on a particular class of imports or exports.

Quota

• The limited of fixed number or amount of people or things, in particular.

Embargo

• An official ban on trade or other commercial activity with a particular country.

The physical trade barriers

• Mountains
• Deserts

International trade

• The exchange of good and services between countries.

Currency exchange

• an exchange from one type currency to another from a different country.

Specialization

• when few countries produce enough goods to be completely sefl-sufficient

Interdependence

• Mutual dependence between things.

Currency

• Paper or coins that a country uses for money.

Exchange rate

• A system of changing one type of currancy.

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