ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Quota
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Volcano
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Desert
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Embargo
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Tarriff
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Detailed explanation-1: -The most common barriers to trade are tariffs, quotas, and nontariff barriers. A tariff is a tax on imports, which is collected by the federal government and which raises the price of the good to the consumer. Also known as duties or import duties, tariffs usually aim first to limit imports and second to raise revenue.
Detailed explanation-2: -TANC classifies foreign trade barriers within four broad types: Border Barriers, Technical Barriers to Trade, Government Influence Barriers, and Business Environment Barriers.
Detailed explanation-3: -Trade barriers include any policies and regulations that prevent you from trading goods. Barriers can include tariffs, labelling requirements and local content requirements.
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