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Explain and outline the arguments for trade restrictions.
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∙ 15y ago
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How do trade barriers restrict trade?
??
What is trade in the economy?
A trade in a economy is what they trade for money.
What does diverse economy mean?
A diverse economy is an economy based on more than one thing. So there is a great deal of diversity as far as products , goods and services as well as vendors.
Why do economists oppose policies that restrict trade among nations?
Economists oppose because besides gaining from trade there are some disadvantages that a nation face.... Free trade implies open access to the economy of any nation and thus the economy of a nation can be influenced by the activities of other nations... trade helps nation in specialization of producing that goods in which it has comparative advantage i.e which it can produce with lower opportunity cost... If a nation specialize in only one commodity production neglecting others then it would have to be dependable to other nations for other commodities..thus it may expand the economy of others but not its own... often international trade becomes beneficial when one can get goods at lower price than its price in own country,but it causes the internal industries as well as economy to break down.... so to expand own economy as well as development a nation should restrict its trades protecting own industries....
What act was prohibiting interference with free trade?
The Sherman Antitrust Act prohibited interference with free trade. Trusts were business organizations that aimed to restrict the flow of goods and money in the economy, and by setting up an antitrust act Sherman attempted to prohibit this sort of interference.
How do trade barriers restrict trade?
??
What is a diverse economy?
A diverse economy contains a variety of sources of revenue.
What is trade in the economy?
A trade in a economy is what they trade for money.
Is Canada's economy diverse?
Yup!
What does diverse economy mean?
A diverse economy is an economy based on more than one thing. So there is a great deal of diversity as far as products , goods and services as well as vendors.
Why do economists oppose policies that restrict trade among nations?
Economists oppose because besides gaining from trade there are some disadvantages that a nation face.... Free trade implies open access to the economy of any nation and thus the economy of a nation can be influenced by the activities of other nations... trade helps nation in specialization of producing that goods in which it has comparative advantage i.e which it can produce with lower opportunity cost... If a nation specialize in only one commodity production neglecting others then it would have to be dependable to other nations for other commodities..thus it may expand the economy of others but not its own... often international trade becomes beneficial when one can get goods at lower price than its price in own country,but it causes the internal industries as well as economy to break down.... so to expand own economy as well as development a nation should restrict its trades protecting own industries....
What was restrict by continental system?
Trade was restricted by the Continental System.
Describe labor specialization?
Labor specialization led to a diverse West African economy. How?? I need a reason why.
What term applies to a country in which the economy is primarily based on diverse industries?
The term that applies to a country in which the economy is primarily based in diverse industries is called a market based economy. This means that people of that country buy diverse things there, such as gifts, or fresh food, and don't depend on one industry.
What act was prohibiting interference with free trade?
The Sherman Antitrust Act prohibited interference with free trade. Trusts were business organizations that aimed to restrict the flow of goods and money in the economy, and by setting up an antitrust act Sherman attempted to prohibit this sort of interference.
What geographic features restrict trade in africa?
great lakes of africa
What is a trade-based economy called?
An economy based on trade is generally termed a market economy by those who study these things.
