theme 4 cc1

protectionism

the use of economic policies to regulate trade between countries mainly to reduce imports

trade barrier

any measure which artificially restricts international trade

tariff, import duty or customs duty

a tax on imported goods which has the effect of raising the domestic prices of imports and restricting demand for them

quota

a physical limit on the quantity of an imported group

subsidies ( to domestic producers)

a grant given to firms which lowers the price of a good, usually designed to encourage production or consumption of a good

non tariff barriers

regulations which increase costs to foreign producers and therefore act as barriers to trade

dumping

the sale of goods at less than cost price by foreign producers in the domestic market