About This Chapter
Georgia Milestones: Trade Barriers & Regulations- Chapter Summary
If you plan on taking the Georgia Milestones exam on economics, business and free enterprise, you will find the lessons we have provided in this chapter to be extremely helpful study guides. These short videos will specifically teach you about the main topics related to trade barriers and regulations. Each lesson serves as an overview of a different topic that you might encounter on the exam, such as:
- Net exports, capital flow and trade balance
- Financial markets and goods markets
- Tariffs and quotas
- Trade restriction and foreign labor
- The growth of international organizations
- Middle East conflicts and OPEC's '70s oil embargo
- International trade organizations and agreements
You can review these lessons anytime, on a computer or mobile device. Once you have gone over all of the lessons, be sure to use the chapter's practice quizzes to assess your understanding of some of these topics. These quiz questions are multiple-choice like the ones you'll see on the Georgia Milestones exam.
1. Net Exports, Capital Flows and Trade Balance
Learn what net exports and balance of trade are, how they are calculated, and what influences them. Explore what capital flows are in relation to net exports and trade balance and the importance of these monies in an economy.
2. Financial Markets & Goods Markets
Learn about two of the biggest markets in most economies; the financial and goods markets. Find out what financial markets are and the purpose they serve. Explore the stock market and bond market and see how they are different than the goods market.
3. Tariffs and Quotas: Effects on Imported Goods and Domestic Prices
Explore what tariffs and quotas are and what effect they can have on the supply of imported goods. Find out how these two economic tactics can influence the prices you pay for many of the everyday items you may purchase.
4. Trade Restrictions and Foreign Labor
Discover why trade restrictions are sometimes used to combat cheap foreign labor. Learn about outsourcing, job protection, and infant industry strategies.
5. Growth of International Organizations: History, Events, and Trends
In this lesson, we explore the growth of international organizations since the 1990s, especially the proliferation of trade deals and the expanding reach of existing organizations like the UN, NATO, and the EU.
6. Conflict in the Middle East: OPEC's 1970s Oil Embargo & Its Impact
The 1970s represented a period of economic distress in the United States. Learn about one of the major factors, the 1973 oil embargo by OPEC, and its devastating impact on the American economy in this video lesson.
7. International Trade Organizations and Trade Agreements
International trade organizations and trade agreements have enormous power in the global trade environment. In this lesson, you will learn about the roles of the GATT, NAFTA, and the World Trade Organization.
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Other chapters within the Georgia Milestones - Economics/Business/Free Enterprise EOC: Test Prep & Practice course
- Georgia Milestones: Introduction to Economics
- Georgia Milestones: Scarcity, Choice & the Production Possibilities Curve
- Georgia Milestones: Consumer Behavior & Microeconomics
- Georgia Milestones: Supply & Demand
- Georgia Milestones: Economic Interdependency
- Georgia Milestones: Economic Price & Income Elasticity
- Georgia Milestones: Types of Economic Systems
- Georgia Milestones: Government's Role in Economic Systems
- Georgia Milestones: Market Structures in the US Economy
- Georgia Milestones: Business Organizations
- Georgia Milestones: Making Business Decisions
- Georgia Milestones: Understanding Production in Microeconomics
- Georgia Milestones: Comparative vs. Absolute Advantage
- Georgia Milestones: Macroeconomic Equilibrium
- Georgia Milestones: Scarce Economic Resource Markets
- Georgia Milestones: Measuring Economic Activity
- Georgia Milestones: Economic Growth & Productivity
- Georgia Milestones: Inflation Measurement & Adjustment
- Georgia Milestones: Understanding Unemployment
- Georgia Milestones: Aggregate Supply & Demand
- Georgia Milestones: Fiscal & Monetary Policies
- Georgia Milestones: Expansionary & Contractionary Policies
- Georgia Milestones: Money, Banking & Financial Markets
- Georgia Milestones: Central Bank & the Money Supply
- Georgia Milestones: Foreign Exchange & the Balance of Payments
- Georgia Milestones: Consumer Decision Making
- Georgia Milestones: Savings & Investments
- Georgia Milestones: Credit & Interest Rates
- Georgia Milestones: Insurance
- Georgia Milestones: Taxation
- Georgia Milestones - Economics/Business/Free Enterprise EOC Flashcards