1. 3. Mat ea concept in Column A with a definition or example in Column B.

Column A Column B

a. Tariff 1. Economic weakness resulting from too mu import dependence

b. Import substitution 2. When a region competes by providing a low-cost business environment, resulting in deterioration of labor, environmental, or safety standards

c. Vulnerability 3. An organization arged with facilitating international trade

d. Race to the boom 4. Geing trapped into the long-term production of primary goods for export

e. Dumping 5. e theory that trade should eventually lead to input prices that are equal across countries

f. ota 6. A tax levied on an internationally traded item g. Exporting pollution h. WTO 7. Occurs when a country reduces its own manufacturing and relies more on goods manufactured elsewhere 8. e use of environmental, health, or safety regulations to prevent imports from other countries under the pretext of upholding higher standards i. Factor price equalization 9. e deliberate promotion of domestic goods production to reduce reliance on imports j. Comparative advantage 10. An industry that needs protection until it is able to compete k. Lo-in 11. Selling goods abroad at a price that is below the cost of production Column A Column B l. Administrative obstacles 12. Puing a quantity limit on imports or exports m. Infant industry 13. Puing a tariff on orange juice imports to help Florida orange growers n. Protectionism 14. A country is relatively more efficient in the production of some good(s)