Ch 12 - key term part 2 0.0 / 5 ? Business Studies-IGCSENone Created by: a f.vCreated on: 22-10-14 11:44 Balance of trade or visible balance The difference between visible exports and visible imports 1 of 13 Devaluation The depreciation or fall in the value of a currency 2 of 13 Exchange rate The price of one currency in terms of another 3 of 13 Exports Goods and services sold overseas 4 of 13 Free trade Trade between nations that is completely without government restrictions 5 of 13 Imports Goods and services being sold over the border or overseas 6 of 13 Invisible trade Trade in services 7 of 13 Visible Trade Trade in physical goods 8 of 13 Protectionism An approach used by a goverment to protect domestic producers 9 of 13 Quota A physical limit on the quantity of imports allowed into a country 10 of 13 Subsidy Finical support given to a domestic producer to help compete with firms over the border or overseas 11 of 13 Tariff A tax on imports to make them more expensive 12 of 13 Trade barriers Measures designed to restrict trade 13 of 13
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