Which of the following is NOT an example of a commonly used trade barrier?
A) A convention on imported children's toys
B) A tariff on imported oil
C) A tax on imported clothing
D) A national industrial standard that drives up the cost of imported televisions

Question

Quizplus · Accepted Answer

A convention on imported children's toys is not an example of a trade barrier. It is a possible agreement or regulation between countries to ensure the safety of products entering their markets. Trade barriers, on the other hand, are policies or practices that restrict international trade, making it harder or more expensive for goods and services to cross borders. Tariffs, taxes, quotas, subsidies, technical barriers to trade, and embargoes are some of the most common types of trade barriers. Options B, C, and D are all examples of trade barriers since they involve adding extra costs or obstacles for foreign producers trying to sell their products in a country's domestic market.

Which of the Following Is NOT an Example of a Commonly