ECONOMICS
BARRIERS TO TRADE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a tax
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a mountain range
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a ban on trade
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None of the above
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Detailed explanation-1: -Border blockades, demonstrations or attacks on trucks can create major obstacles to trade and cause serious economic loses. These physical barriers to trade do not stem from national technical regulations, but from the actions of individuals or national authorities.
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: -Trade barriers are tariffs, quotas, and embargos.
Detailed explanation-4: -Tariffs are a tax on imports. Quotas are a limit on the number of a certain good that can be imported from a certain country. Embargoes occur when one country bans trade with another country. More items