4 Explain the effects of an import quota on domestic production, consumption and price. Non-tariff policies include
Question:
4 Explain the effects of an import quota on domestic production, consumption and price. Non-tariff policies include health, safety and regulation barriers. Thousands of detailed health, safety and other regulations restrict international trade. For example, the EU bans imports of most genetically modifi ed foods such as US-produced soya beans. The EU also uses Geographical Indicators, which restrict the use of well-known food and drink names to specifi c areas such as Feta cheese to Greece. Although such regulations are not designed to limit international trade, they have that effect and may now be as important as tariffs.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Economics
ISBN: 9781118150122
10th European Edition
Authors: Michael Parkin, Dr Melanie Powell, Prof Kent Matthews
Question Posted: