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Explain FIVE ways in which a government can practice trade Restriction.

Explain FIVE ways in which a government can practice trade Restriction.

Answers

gideon
i. Tariffs - These are taxes levied mostly on imported goods which make them to be expensive
hence hindering their purchase.
ii Total bans – This a complete prevention of certain commodities entering into the country hence
restricted.
iii. Quotas - This is the restriction on the volume of commodities to be imported into a country
over certain period.
iv. Embargoes – An embargo is an official order stopping trade within a country.
vi. Custom draw back - Complicated import procedures on certain products may discourage
individual / business from trading.
vi. Administrative control - A government can use various rules / control as a way of protecting
imports viii. Foreign exchange control – The government may restrict foreign exchange required is pay for imports.
gideon1 answered the question on November 2, 2017 at 06:21

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