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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

Is it legitimate to impose higher safety standards on imported goods that exist in the foreign country where the goods were produced?

To determine

Whether it is legal to impose higher safety standards on goods imported that exist in the foreign country where the production of goods takes place.

Explanation

Unsafe consumer products argument:

When a country restricts imports based on consumers’ safety standards, it is called the unsafe consumer products argument. WTO allows every country to establish its own consumer safety standards even if those standards are higher than those prevailing in the country from where the goods are imported. However, WTO also mandates scientific grounds for such standards, i...

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