Aims of the WTO

Define free trade

Define Tariff

Define Quota

Define subsidy

Define dumping

Define Exchange rate

Define a fixed exchange rate

Define a floating exchange rate

Define the balance of payments account

define the current account

balance of trade in goods

Balance of trade in services

Expenditure switching Policies

Expenditure reducing policies

PTA

FTA

Customs Unions

Common markets

economic and monetary union

Define trade creation

Define Trade diversion