Asked by Natalie Montalvo on Jul 27, 2024
Verified
Trade restrictions can take any of the following forms except one.Which is the exception?
A) Tariffs
B) Free trade agreements
C) Quotas
D) Voluntary trade restrictions
E) Health and safety restrictions
Tariffs
Taxes imposed by a government on imported goods in order to protect domestic industries or to generate revenue.
Quotas
A quota is a government-imposed trade restriction that limits the number or monetary value of goods that can be imported or exported during a specified period.
Free Trade Agreements
Treaties between two or more countries to establish a free trade area, where commerce is conducted without tariffs or restrictions.
- Understand the consequences of trade restrictions on economies.
Verified Answer
Learning Objectives
- Understand the consequences of trade restrictions on economies.
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