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Exam (elaborations)

BA 310 CH6,2. KEY TERMS QUESTIONS AND VERIFIED ANSWERS

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BA 310 CH6,2. KEY TERMS QUESTIONS AND VERIFIED ANSWERS











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Uploaded on
August 8, 2025
Number of pages
20
Written in
2025/2026
Type
Exam (elaborations)
Contains
Questions & answers

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export subsidies


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negative tariff or tax break aimed at boosting exports




trade

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two way flow of exports and imports of goods (merchandise trade) and
services (service TRADE)




custom duties


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taxes on imports that are collected by a designated government agency
responsible for regulating imports




specific tariff


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an import tax that assigns a fixed dollar amount per physical unit




tax haven countries


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countries with little or no tax transparency




public corruption

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practice of making illegal payments to government officials or engaging in
blackmail, extortion, or other related activities in order to obtain
government contracts or governmental approval for business activities.




Terrorism Risk Insurance Act of 2002


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US law that after a certain deductible provides US businesses government
insurance coverage for the risk of terrorism




collusion


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practice of companies acting in a manner that secretly thwart competition
among themselves




monopoly


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situation where there is only a single seller of a product in an industry and
there a very high barriers to enter this industry

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