Explain why trade barriers are used, Microeconomics

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Explain why trade barriers are used

Question 1: Briefly explain the following reasons why trade barriers are used:

Protecting domestic employment
National security
Retaliation
Protecting consumers
Protecting infant industries

Question 2: Explain the participation of WTO in the decline of the role tariff play in international trade in modern times.

Question 3:

A. Distinguish Licenses from quotas.

B. Distinguish Embargo from Voluntary export restraint

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Microeconomics: Explain why trade barriers are used

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Microeconomics: Explain why trade barriers are used

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