GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Stopping the export and import of a product is known as?
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Tariff
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Embargo
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Quota
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Deal
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Explanation:
Detailed explanation-1: -Embargoes are when a country–or several countries–officially ban the trade of specified goods and services with another country. Governments may take this measure to support their specific political or economic goals.
Detailed explanation-2: -1 : an order of a government prohibiting the departure of commercial ships from its ports. 2 : a legal prohibition on commerce. 3 : stoppage, impediment; especially : prohibition.
Detailed explanation-3: -Examples from Collins dictionaries The United Nations imposed an arms embargo against the country. That country experienced comprehensive embargoes on trade and finance. The fruit was embargoed. They embargoed oil shipments to the U.S.
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