The two general kinds of trade barriers are _____.
A)government import standards and industry import standards
B)qualitative and quantitative barriers
C)voluntary and involuntary barriers
D)nationalistic and geocentric barriers
E)tariff barriers and nontariff barriers

Question

Quizplus · Accepted Answer

The two general kinds of trade barriers are tariff barriers and nontariff barriers. Tariff barriers refer to taxes placed on imported goods, making them more expensive and less competitive compared to locally produced goods. Nontariff barriers, on the other hand, refer to all other barriers that obstruct the free flow of goods, such as quotas, subsidies, regulations, and standards. These barriers are typically more difficult to quantify and remove than tariff barriers.

The Two General Kinds of Trade Barriers Are _____