ScienceEconomicsTrade Barriers example #14038
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Trade Barriers

Harmoni Bennett avatar Harmoni Bennett
25 July 2022
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question
Which of these is a positive incentive for domestic producers?
answer
a subsidy on domestic oranges
question
Who ultimately pays for tariffs, consumers or producers?
answer
consumers
question
On which country has the United States imposed an embargo since 1960?
answer
Cuba
question
Which best describe 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
question
What is the government's aim in setting quotas?
answer
to increase sales of domestic goods
question
What do quotas and embargoes have in common?
answer
They both set limits on imported goods.
question
How are subsidies similar to tariffs?
answer
Both aim to disadvantage imports.
question
How do quotas help domestic producers?
answer
Quotas facilitate the sale of more domestic goods.
question
Which best describes how standards help domestic producers?
answer
Standards require goods to meet basic requirements.
question
Customs duty on cars produced overseas is a type of
answer
negative incentive and tariff.
question
Tariffs and subsidies are both types of
answer
incentives
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Which group directly benefits from subsidies?
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producers
question
Which type of trade barrier is explicitly used for political purposes?
answer
embargos
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What term describes a ban or restriction on trade with another country?
answer
embargo
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Which type of incentive makes it more profitable to follow a certain course of action?
answer
positive
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 purpose do financial incentives serve?
answer
They act as trade barriers.