Question

international trade advocates say that"some trade is better than no trade" and "free trade is better than protected trade".
State an argument for trade protection in one short sentence.
Answer
describe one benefit of trade?
Answer
An import or export quota is a trade protection measure .Explain what an import quota is?
Answer
Explain clearly and briefly what free trade is ?
Answer
Apart from quota, identify an example of a measure to protect or restrict trade?
Answered by GPT 3.5
Trade protection can help protect domestic industries from unfair competition and ensure job stability for local workers.
Answered by GPT 3.5
One benefit of trade is increased variety and availability of goods and services for consumers.
Answered by GPT 3.5
An import quota is a specific limit set by a government on the quantity of a certain good that can be imported into a country during a specified period of time.
Answered by GPT 3.5
Free trade is a policy in which goods and services can be exchanged between countries without restrictions or barriers, such as tariffs or quotas, allowing for greater competition and efficiency in the global market.
Answered by GPT 3.5
One example of a measure to protect or restrict trade is the imposition of tariffs, which are taxes placed on imported goods, making them more expensive and less competitive in the domestic market.