Examlex
In his Law of ________, Thorndike posited that behaviors that are followed by pleasant outcomes would be repeated, while those that were followed by unpleasant outcomes would not be repeated.
Quota
A government-imposed trade restriction limiting the number or monetary value of goods that can be imported or exported.
Nations Trade
The exchange of goods, services, and capital between countries, driven by comparative advantages and specialization.
Frederic Bastiat
A 19th-century French economist and writer known for his advocacy of classical liberalism and his witty criticisms of protectionism.
Trade Protectionism
Government policies designed to restrict international trade to protect domestic industries from foreign competition.
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