Politics And GovernmentPolitical ScienceTrade Barriers
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Trade Barriers

Jeremy Garcia avatar Jeremy Garcia
18 January 2023
4.4 (125 reviews)
17 test answers

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question
embargo
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a rule that restricts commercial trade
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implement
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use to complete a specific action
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quota
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a proportion or share
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standard
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custom established by an authority or government
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subsidy
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a grant of money, special loans, specially priced insurance, and so on from a government to a business
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tariff
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a tax on imported goods
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Which type of trade barrier is explicitly used for political purposes?
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embargoes
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How are subsidies similar to tariffs?
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Both aim to disadvantage imports.
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On which country has the United States imposed an embargo since 1960?
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Cuba
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What do quotas and embargoes have in common?
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They both set limits on imported goods.
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What is the purpose of quotas?
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to limit how much of a good can be imported
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What purpose do financial incentives serve?
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They act as trade barriers.
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Tariffs and subsidies are both types of
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incentives.
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Which type of incentive makes it more profitable to follow a certain course of action?
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positive
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How do embargoes most negatively affect a domestic market?
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by depriving domestic producers of needed goods, restricting their ability to trade
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Which best describes how standards help domestic producers?
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Standards require goods to meet basic requirements.
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What term describes a ban or restriction on trade with another country?
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embargo