Geography key terms 1

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Last updated: September 22, 2017
First submittedSeptember 22, 2017
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Average score22.2%
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Key term
Definition
a tax imposed on imports
tariff
financial assistance to a business by a government
subsidy
a limit on the quantity of goods allowed into a country
quota
a policy to protect businesses by restricting imports into the country
protectionism
transferring ownership of a company from the public sector to the private sector
privatisation
Key term
Definition
the philosophy of free trade, free markets and private companies with no government interference
neoliberalism
same as outsourcing
offshoring
when a TNC takes over another company in a foreign country
foreign acquisitions
trade where governments don't apply tariffs or quotas
free trade
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