Asked by Charley Stinespring on May 07, 2024
Verified
An import-licensing requirement or import restrictions pertaining to the product quality and safety are examples of
A) protective tariffs.
B) nontariff barriers.
C) voluntary export restrictions.
D) quotas on imported products.
Import-Licensing Requirement
Regulations requiring a company or individual to obtain permission, often through a specific license, before importing goods into a country, used by governments to control the volume and types of goods entering the market.
Nontariff Barriers
All barriers other than protective tariffs that nations erect to impede international trade, including import quotas, licensing requirements, unreasonable product-quality standards, unnecessary bureaucratic detail in customs procedures, and so on.
Import Restrictions
Government-imposed controls or limitations on the quantity or value of goods that can be imported into a country, often to protect domestic industries.
- Recognize and categorize different forms of trade barriers and their implications.
Verified Answer
Learning Objectives
- Recognize and categorize different forms of trade barriers and their implications.