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Identify and describe the three potential barriers to international trade.
Revenue Generated
The total amount of money received by a company from its sales of goods or services, before any expenses are subtracted.
Deadweight Loss
A decline in economic productivity that happens when a good or service does not reach or cannot reach its equilibrium.
Excise Tax
A tax levied on specific goods, services, or transactions, often included in the price of the product, such as alcohol, tobacco, and fuel.
Equilibrium Price
The cost at which the amount of a product or service that consumers want to buy matches the amount available, leading to equilibrium in the market.
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