ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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embargo
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quota
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exchange rate
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tariff
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Detailed explanation-1: -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-2: -The major obstacles to international trade are natural barriers, tariff barriers, and nontariff barriers.
Detailed explanation-3: -Tariffs are used to restrict imports. Simply put, they increase the price of goods and services purchased from another country, making them less attractive to domestic consumers.
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