What measures do governments take to promote exports and restrict imports? Who benefifits and who loses from protectionist policies? What is the net outcome for society?

Q: How do you think countries can solve the problem on exportation, particularly on medical products,…

A: Exportation refers to the act of sending goods and services out of the country. A rise in the…

Q: Define dumping?

A: International trade refers to the exchange of goods services and capital between different countries…

Q: Who are the Winners and Losers from trade Restrictions?

A: A trade restriction is an artificial constraint on the trade of commodities and services between two…

Q: Who are the winners and who are the losers when tariffs or quotas are implemented?

A: The tariffs are the unitary tax imposed by the government over the commodity which is being imported…

Q: List five (5) arguments often given to support trade restrictions.  How do economists respond to…

A: Trade restrictions are restrictions imposed on trade for domestic country’s growth and security.…

Q: What is the argument against protectionism?

A: Free trade and protectionism are the two important views in international trade.

Q: Why do governments impose tariffs?

A: Meaning of Tariffs and Quotas: The term tariff refers to the situation under which when any goods…

Q: What are the two reasons for unfavorable terms of trade in semi-developed countries?

A: Terms of trade of a country is the proportion of export price index to the import price index.

Q: Why do nations engage in international trade?

A: Absolute advantage refers to the ability of the country to produce more units of good than other…

Q: what is the 'Infant Industry' economic argument that supports the need for government intervention…

A: Infant industry argument was significant in international trade where the small or new entrants are…

Q: What is a subsidy we have in the United States and how is that related to protectionism?

A: A subsidy, sometimes known as a government incentive, is a type of financial help or support given…

Q: The WTO discourages the use of quotas because they are:

A: World trade organization is the international organization which deals with the rules and…

Q: Is it legitimate to impose higher safety standards on imported goods that exist in the foreign…

A: Imposing higher safety standards on imported goods in favour of unsafe consumer products argument…

Q: Name the institutions that can be seen as a support mechanisms of trade. What are their services and…

A: The first step is recognizing when institutional inadequacies are to blame for problems in…

Q: Do you think  that WTO  can ensures strict health and safety regulations are not being used as an…

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: Who benefits from tariffs? Government or domestic industries?

A: Tariffs refer to the government policy to restrict the imports of goods and services in the economy.

Q: Why do Countries Use Restrictions on Trade? What are the Reasons?   Types of Trade Restrictions:…

A: Trade Restriction:- A trade restriction is a manufactured barrier to cross-border exchange in…

Q: Share 5 different ways in which Governments can affect international trade and business: Your answer

A: International trade is an element of globalization where different countries trade with each other.

Q: How can you use ideas of globalization to support sustainable access to food?

A: Globalisation's greatest benefit, however, is the sharing of agriculture and production practises…

Q: why the production subsidy does not change world prices, but the export subsidy can do?

A: By partially compensating production costs or losses, a production subsidy motivates suppliers to…

Q: What steps/measures are taken by the governments or economies to facilitate international trade?

A: International trade refers to the exchange of goods, services, capital, and assets that occurs…

Q: What economic impact have pandemics such as COVID-19, had on global trade

A: Globalization refers to integration of a country with rest of the world. Globalization includes…

Q: How can trade policies, natural disasters and other world affairs affect the availability and prices…

A: If the trade policies are liberal, the countries can export and import the raw materials easily,…

Q: liberalization and protectionism

A: Liberalization :- liberalization is the removal or reduction of restrictions or barriers on the free…

Q: What is the mercantilist views to international trade?

A: Mercantilism is a system that lasted from 16th to 18th century in trade. The whole idea was that the…

Q: Define protectionism, and explain nontarriff barriers to trade. Who are the major beneficiaries and…

A: Protectionism is a strategy of defending native industries from international competition by…

Q: What is the importance of food security in politics and governance in a place like the Philippines?

A: Food security is described as "everyone having access to enough food to live a healthy, active…

Q: Would the car company toyota prefer liberization or protectionism? Why would they choose one over…

A: In an economy, Liberalization refers to the opening of the economies for trade activities, while…