ScienceEconomicsTrade Barriers Quiz
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Trade Barriers Quiz

Wylie Hernandez avatar Wylie Hernandez
24 November 2022
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10 test answers

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question
Which best describes what a subsidy does?
answer
It keeps the price of domestic goods relatively low.
question
Which best describes how standards help domestic producers?
answer
Standards require goods to meet basic requirements.
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
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
What term describes a ban or restriction on trade with another country?
answer
embargo
question
How are subsidies similar to tariffs?
answer
Both aim to disadvantage imports.
question
Which type of goods becomes more expensive as a result of tariffs?
answer
imported
question
Which type of trade barrier is explicitly used for political purposes?
answer
embargoes