O'Reilly logo

The Complete Idiot's Guide to Economics, 2nd Edition by Tom Gorman

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Barriers to International Trade

Free trade refers to the elimination of barriers to international trade. The most common barriers to trade are tariffs, quotas, and nontariff barriers.
221
ECONOTALK
A tariff is a tax on imported goods, while a quota is a limit on the amount of goods that may be imported. Both tariffs and quotas raise the price of and lower the demand for the goods to which they apply. Nontariff barriers, such as regulations calling for a certain percentage of locally produced content in the product, also have the same effect, but not as directly.
A tariff is a tax on imports, which is usually collected by the federal government ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required