ECONOMICS
BARRIERS TO TRADE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When a country trades different things on ships with other countries
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A complete or partial refuse to trade
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When a country doesn’t want to trade because another country did something mean to them
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There is no such thing as an Embargo
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Detailed explanation-1: -An embargo is a trade restriction, typically adopted by a government, a group of countries or an international organization as an economic sanction. Embargoes can bar all trade, or may apply only to some of it, for example to arms imports.
Detailed explanation-2: -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-3: -Examples from Collins dictionaries The United Nations imposed an arms embargo against the country. That country experienced comprehensive embargoes on trade and finance. The fruit was embargoed. They embargoed oil shipments to the U.S.
Detailed explanation-4: -Quotas are import limits that prevent more than a set amount of a specific good from being imported into a country. An embargo is a ban on the trade of a particular good, category of good, or with a specific country.