(Answered) Trade restrictions can be implemented by tariffs and quotas

Economics

Trade restrictions can be implemented by tariffs and quotas acting on price and quantity respectively or by non-tariff barriers (NTBs). Explain what constitute NTBs ranging from industrial policy, technical barriers, subsidies and government procurement to labour and environment standards. Discuss NTBs' relative effectiveness and popularity in international economics in the 21st century.

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Category:- Business Economics
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