ENTREPRENEURSHIP

Detailed explanation-1: -Quotas: A quota is a trade restriction imposed on the number of goods that can enter the country. It is decided by the governments of both exporting and importing countries on the specific goods to reduce the import of specific goods and increase the domestic production.

Detailed explanation-2: -The most common barrier to trade is a tariff–a tax on imports. Tariffs raise the price of imported goods relative to domestic goods (good produced at home). Another common barrier to trade is a government subsidy to a particular domestic industry.

Detailed explanation-3: -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.