1. the level of material comfort and wealth that a person or a community has;
2. an amount that must be paid when particular goods are imported into a country, or sometimes when they are exported;
3. a limit on the amount of a particular good that may be imported into country during a given a period of time;
4. a set of restrictions imposed by a government on buying and selling foreign currencies;
5. trade between countries with few government restrictions;
6. a system of import controls set up by a government to protect the country from foreign competition;
7. inside a particular country.
Exercise 4. Write an appropriate word into sentence:
national producer, free, barriers, exchange controls, quota, tariff, living standard, international.
1. The company depends on … trade.
2. I hope this new job will give me a better …. .
3. … . barriers can make trade difficult.
4. The government fixed a … on the number of foreign cars allowed to be sold in the USA.
5. The United Kingdom removed all … long tome ago.
6. The General Agreement on Tariffs and Trade (GATT) is an international organization whose goal is to eliminate tariffs and other … to international trade.
7. .… trade among nations results in increased competition and lower prices.
8. This company is the largest … of steel.
Exercise 5. Answer the following questions:
1.What is the international trade?
2 .Why do countries engage in international trade?
3. Does international trade influence on domestic prices?
4. Do the government control international trade?
5. What are the most common protectionist measures?
6. What reasons are generally given for imposing trade barrier?
7. What is the free trade?
Unit 37. World Trade Organization
Active Vocabulary
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the World Trade Organization (WTO) administer trade agreements trade negotiating settle trade disputes |
Світова організація торгівлі керування торговельними угодами торгові переговори регулювати торгові конфлікти |