Match the explanation with the relevant Barrier to Trade from the list below - Leaving Cert Business - Question 11 - 2022
Question 11
Match the explanation with the relevant Barrier to Trade from the list below.
One barrier is not explained.
**Explanation**
1. An import tax imposed on goods coming... show full transcript
Worked Solution & Example Answer:Match the explanation with the relevant Barrier to Trade from the list below - Leaving Cert Business - Question 11 - 2022
Step 1
An import tax imposed on goods coming in from certain countries.
96%
114 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
This explanation correlates with the barrier to trade known as Tariff. A tariff is a tax levied on imported goods, which increases the price and may reduce the volume of imports.
Step 2
A complete ban on specific goods being imported into a country.
99%
104 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
This corresponds to the barrier to trade known as Embargo. An embargo prohibits the importation of specific goods from certain countries, often for political reasons.
Step 3
Money provided by the Government to help firms cover operating costs to keep prices competitive.
96%
101 rated
Only available for registered users.
Sign up now to view full answer, or log in if you already have an account!
Answer
This is referred to as a Subsidy. Subsidies are financial assistance programs that support businesses, allowing them to lower prices and remain competitive in the market.
Join the Leaving Cert students using SimpleStudy...
