ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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embargoes
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quotas
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tariffs
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natural trade barriers
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Detailed explanation-1: -Distance is thus one of the natural barriers to international trade. Language is another natural trade barrier. People who can’t communicate effectively may not be able to negotiate trade agreements or may ship the wrong goods.
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: -Natural Barriers to Trade are those Barriers imposed by Nature or are due to cultural clashes between countries. The most common example of a Natural Trade Barrier would be mountains. Take the case of Afghanistan. The country is surrounded by mountains to its eastern side.
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