b) Types

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7 Terms

1
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  • examples of protectionist policies


  • tariffs

  • quotas

  • subsidies to domestic producers

  • non-tariff barriers


2
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  • tariff


  • a tax on imports paid by the importing firm


3
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  • tariffs make foreign producers less competitive by…


  • increasing production costs for the importing firm


4
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  • quota


  • a limit on the volume of imports


5
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  • quotas make foreign producers less competitive by…


  • decreasing supply


6
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  • subsidies to domestic producers make domestic producers more competitive by…


  • decreasing production costs


7
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  • examples of non-tariff barriers


  • product labelling

  • product specifications

  • environmental regulations

  • health and safety regulations