BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A nontariff barrier is a trade restriction–such as a quota, embargo or sanction–that countries use to further their political and economic goals.

Detailed explanation-2: -The main types of trade barriers used by countries seeking a protectionist policy or as a form of retaliatory trade barriers are subsidies, standardization, tariffs, quotas, and licenses.

Detailed explanation-3: -An embargo is a government restriction placed on the import or export of goods, services, currency, and other values to any other country or state.

Detailed explanation-4: -Trade barriers are tariffs, quotas, and embargos.

Detailed explanation-5: -The major obstacles to international trade are natural barriers, tariff barriers, and nontariff barriers.