ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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When a country announces that it will no longer trade with another country in order to isolate and cause problems with that country’s economy.
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Knowledge and skills that make it possible for workers to earn a living.
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The value of all the final grade and services for workers to earn a living.
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Factories, machines, and technology that people use to make products to sell.
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Detailed explanation-1: -An embargo (from the Spanish embargo, meaning hindrance, obstruction, etc. in a general sense, a trading ban in trade terminology and literally “distraint” in juridic parlance) is the partial or complete prohibition of commerce and trade with a particular country/state or a group of countries.
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: -AB: How would you define a product-launch embargo strategy? TM: An embargo is a product announcement, product demo or product review unit shared with journalists before the announcement goes public.
Detailed explanation-4: -Sanctions and embargoes are political trade tools, mainly put in place by the United Nations ( UN ) and the European Union ( EU ). The main aim of all UN sanctions and embargoes, as set out in the UN Charter, is to implement decisions by its Security Council to maintain or restore international peace and security.