Trade protection

Front

A total ban on either the import or export of a commodity is a

Back

embargo

Front

a procedure used to limit the number of imports of a product is an

Back

import licence

Front

A tax imposed on imported commodities is a

Back

tariff

Front

The practice of specifying how much of a product may be imported into a country is an

Back

import quota

Front

Government policies which give preference to local suppliers when purchasing supplies & equipment are

Back

Government procurement policies

Front

When an economy can produce a good or service more efficiently than any other nation, this is known as:

Back

absolute advantage

Front

Regulations to control the entry into a country of certain commodities considered to pose a risk is

Back

quarantine regulations

Front

A grant paid by Government to local producers to allow them to sell their products at less than marginal cost is a

Back

subsidy

Front

Production or quality standards specific to a country thereby acting as a protective device against imports

Back

Technical specifications

Front

Voluntary restriction of exports to another country to a prespecified amount

Back

Voluntary export restraint