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What is the meaning of trade barriers |
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Answer» Trade barriers are government-induced restrictions on international trade. Economists generally agree that trade barriers are detrimental and decrease overall economic efficiency; this can be explained by the theory of comparative advantage. A barrier to trade is a government imposed restraint on the flow of international goods or services. The most common barrier to trade is a tariff—a tax on imports. Tariffs raise the price of imported goods relative to domestic goods.\xa0 Trade barrier means increasement of tax on trade products Tax on trade is usually called trade barrier. |
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