What would reduce the volume of international trade in the world economy?
By
Ralph - O
-
Friday, February 18, 2022
(a)a German bank making a loan to a Nigerian company(b)a Japanese car manufacturer establishing a factory in the Czech Republic(c)the Canadian government introducing quotas on Malaysian electronics products(d)the Swedish government granting aid to Somalia
What would reduce the volume of international trade in the world economy?
EXPLANATION:A quota is a government-imposed trade restriction that limits the number or monetary value of goods that a country can import or export during a particular period.
Quota can be: .Import Quota .Export Quota
The Canadian government import quota on Malaysian electronics would reduce the volume of trade in iinternational economy.
Generally speaking, such quotas are put in place to protect domestic industries and vulnerable producers. Quotas prevent a country’s domestic market from becoming flooded with foreign goods, which are often cheaper due to lower production costs overseas.
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