WebCT: ECON30631 Labour Economics (004510) - ECON30631 &LEC 2009-10 1st Sem (coursework) : Barriers to Trade
This page last changed on 27 Nov 2009 by msra7rh2.
Barriers to trade is a term which defines a government policy or regulation that restricts international trade. They are generally in the form of a tariff, a quota or a regulation and they increase the costs of trading. Countries need to be carefully when instilling trade barriers as other countries are likely to retaliate to this. In the current global market where trade barriers are low, domestic producers especially in developed countries are forced to make quality goods and services. They can not afford to become inefficient as they are up against stiff competition internationally. This benefits the consumer as they have more choice of cheaper products. ←Back to Main Page
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