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Question
The most important of the non-tariff trade barriers are __________.
The most important of the non-tariff trade barriers are __________.
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Solution
The correct option is A quotas
Quotas are a protectionist measure that aim to discourage the citizens from spending on imports and "buy local" instead. By imposing a quota the government limits the quantity of a commodity entering the economy, thus the price of it is likely to increase this gives the domestic producers of that commodity an advantage as now more people are likely to purchase domestic produce.
Quotas are a protectionist measure that aim to discourage the citizens from spending on imports and "buy local" instead. By imposing a quota the government limits the quantity of a commodity entering the economy, thus the price of it is likely to increase this gives the domestic producers of that commodity an advantage as now more people are likely to purchase domestic produce.
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