explain why does the WTO need to separate Agreement on Agriculture?

Q: Discuss the role of transport in facilitating global trade

A: The objective of this question is to understand the role of transport in facilitating global trade.…

Q: Why are some economists who favor free trade concerned about the proliferation of regional trade…

A: Some economists favor the free trade situation and they are concerned about the proliferation of…

Q: What are the arguments in support of international trade

A: Due to the scarce resources or uneven distribution of resources, every country cannot produce all…

Q: What is dumping? Why does prohibiting it often work better in theory than in practice?

A: In international trade, the economies exchange goods and services from one country to the other and…

Q: True or false: Internal trade depends on comparative advantages?

A: Internal trade refers to the trade which occurs within the country. There are hardly any…

Q: What is a subsidy we have in the United States and how is that related to protectionism?

A: A subsidy, sometimes known as a government incentive, is a type of financial help or support given…

Q: A primary reason why nations conduct international trade is because

A: The primary reason that why nations conduct international trade is because the resources are not…

Q: Use a graph of your choice to briefly illustrate the overall welfare effects of introducing an…

A: Import tariffs are one type of trade restriction that a govt imposes on its economy. It is usually…

Q: Consider the trade war that initiated the protests led by Bove. The EU instituted restrictions on…

A: A political and economic union of 27 member nations, most of which are in Europe, makes up the…

Q: What are the four unresolved issues in international trade negotiations at WTO?

A: WTO: It deals with the global rules of trade between nations.

Q: If there is a net loss to society from tariffs, why do tariffs exist?

A: A tariff refers to the tax imposed by the government on goods imported into the country.

Q: How many stage of WTO Dispute Settlement? What are they? Briefly explain each stge of the WTO…

A: WTO or World Trade Organization is an organization that regulates and maintain trade between…

Q: How is the Production Possibility Frontier applicable to international trade?

A: please find the answer below.

Q: The most complicated trade agreement is the multilateral agreement True or false

A: Multilateral agreements involve three countries or more.

Q: What is the fundamental source of the gains from international trade?

A: Gains from international trade would depend oncomparative advantage.

Q: What is the concept of absolute advantage in economics and how does it impact international trade?

A: In economics, the concept of absolute advantage refers to a country's ability to produce a certain…

Q: briefly explain one reason why/when protectionism might be a good idea AND one reason why/when it…

A: Protectionism alludes to government strategies that confine worldwide exchange to support homegrown…

Q: Explain what are the general effects of import restrictions on trade

A: Meaning of Trade: The term trade refers to the situation under which the products and goods are…

Q: The graph attached shows the car market in Mexico when Mexico places no restriction on the quantity…

A: 1. The world price of a car = $10,000, Suppose if the government of Mexico introduces a $2,000…

Q: Do you think  that WTO  can ensures strict health and safety regulations are not being used as an…

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: Explain the roles and functions of WTO (The World Trade Organization).

A: The organisation is used by governments to establish, update, and enforce international trade rules.…

Q: Why do you think international trade volume has increased over time? In general,how are inefficient…

A: 1. Technological Advancements: Advances in transportation, communication, and information…

Q: The following graph is the respective production possibility curves for the USA and South Korea. It…

A: Answer -

Q: Consider the Bolivian market for lemons. The following graph shows the domestic demand and domestic…

A: The demand curve represents the quantity demanded by consumers at different price levels. The supply…

Q: How can trade policies, natural disasters and other world affairs affect the availability and prices…

A: If the trade policies are liberal, the countries can export and import the raw materials easily,…

Q: How do you think Americans would feel if other countries began to urge the United States to increase…

A: As the firms operate in more than a country, they are known as multinationals. Multinationals have…

Q: Do you agree that international trade based on external economies of scale may actuallyleave an…

A: When talking about external economies of scale, it is tha situation when a company is producing it's…

Q: what is the rational for a country that promotes free trade to put tariffs on some imported goods…

A: A levy is a duty forced by an overseeing expert on labor and products entering or leaving the nation…

Q: What measures do governments take to promote exports and restrict imports? Who benefifits and who…

A: There are various measures taken by the government to control imports and promote exports, which…

Protective Tariffs

A tariff is a kind of tax that is charged on exported and imported items. It means tariff is charged on both kinds of goods i.e., exported and imported. However, some goods may be exempted from this kind of tariff. Protective Tariffs refer to the charges which a country charged on imported goods to protect its domestic market. It also protects countries Industrialists in their Production. So, that their markets remain intact and do not get dumped by outside supply.