Instructions: Identify the Following Term(s)

question 109

Short Answer

Instructions: Identify the following term(s).
Silk Road

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Definitions:

Ad Valorem Tariffs

Tariffs based on a percentage of the value of the imported goods, used as a trade policy tool.

Quotas

Limits set by governments on the amount of a particular product that can be imported or exported during a specified time period, used to regulate trade.

World Trade Organization

An international organization that regulates international trade.

Economies of Scale

Cost advantages achieved when increasing production leads to lower fixed costs per unit.