trade restrictions (final)

Question 1

what is voluntary export restraint

Answer 1

voulantary agreement between importing and exporting country that the exporting company will limit the supply going out

Question 2

what is export tarrif

Answer 2

a tax set on imports set by the ecporting country

Question 3

what are subsidies

Answer 3

a form of government support to infant industries

Question 4

types of subsidies

Answer 4

grants and loans

Question 5

advantages of subisidies for government

Answer 5

so they can produce domestically leading to economies of scale, until they reach a point where it can export internationally

Question 6

benefit of local content requirement

Answer 6

decrease costs

Question 7

what is administrative policy?

Answer 7

paperwork and beucracy

Question 8

what is anti-dumping policy?

Answer 8

export a product and dump it on international market at a much lower price in comparison to home country

Question 9

economic reasons why i should use trade barriers

Answer 9

1. protect infant industries
2. protect strategic industries

Question 10

political arguments why i should use trade barriers

Answer 10

1. protect jobs and industries
2. protect consumers
3. protect human rights
4. protect national security
5. furthering foreign policy
6. retaliation