VOCABULARY ON IMPORT-EXPORT

Free-trade: when goods can be traded easily between countries without restrictions.

Protectionism: where countries try to protect home producers from foreing competition and cheap imports.

Tariff: a tax that it is paid on goods coming into or going out of a country.

Quotas: the limited quantity of things, for example imports, which is officially allowed.

Dump: to get rid of goods by selling them at a very low price, often in another country.

Bureaucracy: the system of official rules and ways of doing things that an organization or goverment has, especially when these seem to be too complicated.