Purchase Solution

Impact of trade barriers to international trade

Not what you're looking for?

Ask Custom Question

Describe the impact that trade restrictions such as tariffs and quota have on the price of imports, the quantity of imports, and the price of import-competing domestic goods.

Purchase this Solution
Solution Summary

This solution discusses the impact that trade restrictions (tariffs and quotas) have on the price of imports, the quantity of imports, and the price of (import-competing) domestic goods.

Solution Preview

Tariff is a tax imposed on imported products. Quotas are limits on the quantity of product that a country can export. Both of these trade barriers increases the price of imported products. For example, due to high tariff (sometimes 100% tariff) selling price of imported cars sold in the Philippines are ...

Purchase this Solution
Free BrainMass Quizzes
Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

View More Free Quizzes
Related BrainMass Solutions

  • Trade Regulations & Industrial Policies: WTO

    International trade policy is a set of rules and regulations that are intended to change international trade flows especially to restrict imports.

  • successful international economic policy coordination

    Upon your return home, you receive an invitation to speak to a class at the local high school. You are to be part of a panel of three local people considered to have experience in international business.

  • barriers to international trade

    209103 Barriers to international trade Discuss trade (economic reason why trade occurs), the role of the World Trade Organization and regional trade agreements, and the barriers to international trade. There are several reasons why trade occurs.

  • International trade theories for globalization

    (Wikipedia) Impact of WTO The World Trade Organization was created to open up markets, and promote international trade based on the laissez faire 'Free Trade' paradigm.

  • Trade Efficiency

    Any attempt to decrease the international trade in a country acts as an economic inhibitor, which is a detriment to the economic efficiency of the country.

  • World Trade Organization's (WTO) mission statement

    - The WTO is the most effective forum in which the United States can reduce foreign trade barriers and establish international rules for fair trade.

  • Internation Financial Organizations

    If there are barriers to trade, its seeks to lower those barriers and if facilitates the flow of foreign direct investment in its member countries.

  • Why Manufacturer's Interests Prevail in USA

    Economics: International Business study question Why are producer interests likely to outweigh consumer or citizen interests when it comes to the setting of trade policies? The producer's interest is well represented with the government.

  • Tariff and Non-Tariff Barriers

    Non-Tariff barriers to trade are barriers related to trade which prohibit or create restrictions to imports, but which in essence do not exist within the normal form of tariffs.

View More Related Solutions