When a country restricts imports of competitive products in order to allow smaller, less competitive domestic firms to grow and prosper, it is called:Question 3Answera.import substitution policy.b.tariffs.c.non-tariffs.d.none of them

2. Import substitution policies make use ofA) tariffs that discourage goods from entering a country.B) quotas applied to goods that are shipped abroad.C) production subsidies granted to industries with comparative advantage.D) tax breaks granted to industries with comparative advantage.E) production facilities provided by industrialized countries

Which is the trade barrier that involves a country producing and protecting goods that cost more to produce than the same goods made abroad?*1 pointexport substitutiontrade sanctionsubsidyimport substitution

A __________ limits the quantity of imported merchandise, thus minimizing competition faced by domestic products. tariff duty trading bloc trade agreement quota

Import tariffs:Question 1Select one:a.Are generally pro-consumer and anti-producer.b.Reduce the overall efficiency of the world economy.c.Create efficient utilization of resources.d.Reduce the price of foreign goods.

What term refers to a situation in which a government does not attempt to restrict what its citizens can buy or sell to another country?Question 6Select one:a.Import quotasb.Tariffsc.Subsidiesd.Free trade