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31 Oct 2021
Problem 33
Page 830
Section: REVIEW QUESTIONS
Chapter 34: Globalization and Protectionism
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31 Oct 2021
Introduction
Trade Barriers:
Trade barriers are government measures that take steps to promote international trade. By introducing customs barriers, the international exchange can be made more complicated. It can also be used to completely limit trade through embargoes. Trade barriers are divided into six classes. Non-tariff barriers, subsidies, embargoes, voluntary export restrictions, tariff barriers, and quotas. They are harmful and can lead to poor profitability.
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