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4.1.4 Protectionism & 4.1.5 Trading blocs Categorise
Target Level
C
Running Total
0
0%
Attempt
1 of 3
Click on an item, then click on a category to place it. Or, drag and drop the item into the correct category. Organise all items before clicking 'Check'.
TARIFFS
QUOTAS
GOVERNMENT LEGISLATION
DOMESTIC SUBSIDIES
Can raise the final price to the consumer
Stimulates output of critical products e.g. milk
Will help the government to raise tax revenue
An imposed ceiling on the number of goods that can be imported
A tax on imports
A practical limit on the quantity of products imported for example just 1,000 units a year
Raises the income of the producer
Legal requirements on certain goods e.g. live animals
Lowers costs for domestic producers giving them competitive advantage over foreign imports
Intellectual property laws e.g. patents