ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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the level of a product’s quality that is considered acceptable
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a restraint on trade
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A government order that limits trade in some way.
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The level of wealth, comfort, material goods and necessities available
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Detailed explanation-1: -A barrier to trade is a government-imposed restraint on the flow of international goods or services. Those restraints are sometimes obvious, but are most often subtle and non-obvious.
Detailed explanation-2: -A trade barrier refers to any regulation or policy that restricts international trade, especially tariffs, quotas, licences etc.
Detailed explanation-3: -Trade barriers are nothing but the type of measures which are introduced by government or public authorities to make imported goods or services less competitive than locally produced goods and services.
Detailed explanation-4: -Tariffs. Non-tariff barriers to trade include: Import licenses. Export control / licenses. Import quotas. Subsidies. Voluntary Export Restraints. Local content requirements. Embargo. Currency devaluation. Trade restriction.
Detailed explanation-5: -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