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Subjects / LC Economics / Macroeconomics

International Trade

Why countries trade, comparative advantage, and free trade versus protectionism.

5th Year6th Year HigherOrdinary
15practice questions

Fill the gaps: 1 · Match the pairs: 1 · Multiple choice: 10 · Select all that apply: 1 · Numeric answer: 1 · Written answer (self/teacher assessed): 1

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Fill the gaps
A tax placed on imported goods is called a . A physical limit on the quantity of a good that may be imported is called a .

Word bank: tariff quota subsidy embargo

Hint 1

Both are forms of protectionism.

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