Question

First time trying this website so please help

Country A has a lot of oil, so they choose to specialize in exporting this to other countries for their financial gain. Country B has imported a lot of oil from Country A over the years. However, recently oil has been discovered in Country B. In order to encourage using the oil in their own country, Country B has added an extra fee to oil imported from Country A.




Which trade barrier is being used here?



A: Sanction
B: Quota
C: embargo
D: Tariff

Question 2:
Which of the following most accurately describes how and why a country might use an embargo?

A: A country could use an embargo to apply an extra fee to products traded from another country.

B: A country could use an embargo to encourage trade with another country.

C: A country could use an embargo to put a complete stop to trade with another country.

D: A country could use an embargo to put a complete stop to trade with another country.

Last question:
Use the scenario below to answer the question that follows.

Amy wants to sell her product manufactured in her country to consumers in several other countries.

What needs to be in place so Amy can accurately determine the price of her products in these other nations?

A: a system for exchanging currencies between countries

B: a tariff with countries that are trading partners

C: a common European currency

D: a treaty with each country setting the price for its products





pls answer quick am being timed and this is my first time using this

Answer 1

The trade barrier being used corresponds to option D: Tariff. Also, the use of an embargo can be effective in putting a complete stop to trades with another country.

Trade barriers are an effective means of stopping or lowering trades with another entity. In the question given, Country B has added an extra fee to oil being imported from Country A. This trade barrier corresponds to the definition of a Tariff.

On the other hand, when the trade barrier in question corresponds to an embargo, it represents an effective means by which a country can put an end to trades with other countries. An Embargo is when a product or good is confiscated for not complying with rules and regulations, for example, a product imported from a country that is not allowed.

Finally, in order for Amy to accurately determine the price of her products in foreign countries, the most ideal solution would be to form a treaty with those countries that sets the pricing for similar products. However, the existence of a system for exchanging currency can also be an effective way to make sure prices are at a reasonable level for the local economy.

To learn more visit:

https://brainly.com/question/8000501?referrer=searchResults