International Trade And Access To Markets

Question 1

Import licence

Answer 1

Authorising importation of certain goods from a specific source

Question 2

Subsidise

Answer 2

Grants awarded to domestic producers to reduce their production cost to make them more competitive

Question 3

Embargos

Answer 3

Partial or complete prohibition of commerce and trade within a particular country, usually political

Question 4

Import quotas

Answer 4

Quotas set a physical limit restricting the quantity if a particular comodity that can be imported into a country

Question 5

Sanction

Answer 5

Restrictions on exports implemented for political reasons by countries and international organizations in order to maintain peace and security

Question 6

Regulatory or technical restrictions

Answer 6

Restrictions placed on imports based on obsticles such as quality standard of goods or how they are produced