GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Licensing
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Joint venture
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Franchising
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Infrastructure
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Detailed explanation-1: -Governments may also restrict free trade to limit exports of natural resources. Other barriers that may hinder trade include import quotas, taxes and non-tariff barriers, such as regulatory legislation. Historically, openness to free trade substantially increased from 1815 to the outbreak of World War I.
Detailed explanation-2: -The most direct barrier to trade is an embargo– a blockade or political agreement that limits a foreign country’s ability to export or import. Embargoes still exist, but they are difficult to enforce and are not common except in situations of war.
Detailed explanation-3: -Balance of trade (BOT) is the difference between the value of a country’s exports and the value of its imports for a given period.