Trade Barriers By : Christie Nance

Standard Compare and contrast different types of trade barriers such as tariffs , quotas,and embargoes.

Essential Questions How do trade barriers (tariffs , quotas , and embargoes) hinder voluntary trade from occurring between countries ? How does the EU encourage voluntary trade among its members ?

What are trade barriers ? A term that describes any government policy that restricts world trade .

What is a tariff ? A tax on imported goods.

What is a import quota ? An import quota is a type of protectionist trade restriction that sets a physical limit on the quantity of a good that can be imported into a country in a given period of time.

What is a embargo ? An embargo is the prohibition of commerce and trade with a certain country, in order to isolate it and to put its government into a difficult internal situation, given that the effects of the embargo are often able to make its economy suffer from the initiative.

They pervent the contries from trading.