1. Wednesday, February 3, 2016
Objective: Students will be able to analyze the effects of trade barriers on economic activities
Purpose: Trade barriers limit economic activity, but can also be used to protect certain parts of a nation’s economy.

2. Trade Barriers
ways of preventing a foreign product or service from freely entering a nation’s territory
tariff: a tax on imported goods
quota: a set limit on the amount of a good that can be imported
Many import quotas are illegal under international trade rules

4. Arguments for Trade Barriers
Protecting jobs in a country
Protecting developing industries from foreign competition

5. Other Trade Barriers Operating licenses
Health, safety, and environmental regulations
Economic Sanctions
Embargo: total ban on trade with a certain nation