Tariffs, quotas and embargoes are examples of
ECONOMICS
WAEC 2023
Tariffs, quotas and embargoes are examples of
- A. trade restriction policies
- B. monetary policies
- C. fiscal policies
- D. foreign exchange policies
Correct Answer: A. trade restriction policies
Explanation
Trade restriction policies are government interventions that are designed to restrict the flow of goods and services between countries. They can be used to protect domestic industries from foreign competition, to raise revenue for the government, or to achieve other policy objectives.
Tariffs are taxes that are imposed on imported goods. Quotas are limits on the quantity of goods that can be imported. Embargoes are bans on the import or export of certain goods.
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