ScienceEconomicsTrade Barriers example #63944
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Trade Barriers example #63944

Axel Rodriguez avatar Axel Rodriguez
8 March 2024
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question
How are subsidies similar to tariffs?
answer
Both aim to disadvantage imports.
question
Often duties and taxes are imposed on cars that are imported from other countries. What types of incentives are these duties and taxes?
answer
negative incentive and tariff.
question
What term describes a ban or restriction on trade with another country?
answer
Embargo
question
Which group directly benefits from subsidies?
answer
producers
question
Which best describes why countries establish limits on trade? Check all that apply.
answer
to restrict foreign influence in a sector to restrict importation of a foreign good to punish other countries
question
How do embargoes most negatively affect a domestic market?
answer
by depriving domestic producers of needed goods, restricting their ability to trade
question
What is the government's aim in setting quotas?
answer
to increase sales of domestic goods
question
Which of these is a positive incentive for domestic producers?
answer
a subsidy on domestic oranges
question
What do quotas and embargoes have in common?
answer
They both set limits on imported goods.
question
Why do countries provide financial incentives?
answer
Financial incentives act as trade barriers.