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Social SciencePolicies that restrict free trade among nations are?
Policies that restrict free trade among nations are?
Expert Answer
Major trade restriction policies are;
- Import quotas
- Tariffs
- Subsidies
Import quota is a quantitative barrier to trade through which government restrict the quantity of import of a certain commodity to protect domestic producers from foreign competition. In this case, government puts a direct restriction on the quantity of a good that can be imported.
Tariff is a quantitative barrier to trade, where the government imposes a cost on import of ...
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