Import restriction in advanced economies deny developing economies access to the food market of the advanced economies.The result is ________ price and ________ farm production in the developing economies.
A) lower; larger
B) lower; smaller
C) higher; smaller
D) higher; larger
E) stable; smaller

Question

Quizplus · Accepted Answer

Import restrictions in advanced economies limit the markets available for developing economies to sell their products, leading to lower prices due to oversupply in their local markets and smaller farm production as a result of reduced incentives and financial means to produce more.

Import Restriction in Advanced Economies Deny Developing Economies Access to the Food