In general, trade restrictions penalize domestic producers and foreign consumers.

Name: In general, trade restrictions penalize domestic producers and foreign consumers.
Brand: Quizplus
Rating: 4.9 (43 reviews)

Question

Quizplus · Accepted Answer

Trade restrictions, such as tariffs and quotas, generally benefit domestic producers by protecting them from foreign competition, but they penalize domestic consumers by raising the prices of imported goods. Foreign producers are also penalized as their access to the market is restricted.

In General, Trade Restrictions Penalize Domestic Producers and Foreign Consumers