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What are subsidies?
Subsidies are a payment from government to private entities, usually to ensure firms stay in business and protect jobs.
What are Tariffs?
A tariff is a tax imposed by a government on goods and services imported from other countries that serves to increase the price and make imports less desirable
What are Quotas?
A physical limit on the volume of a particular good
Name 1- What will happen if Tariffs were added to the US automobile exports to China?
Exports to China would decrease
China would go to another export
What is an Administrative Barrier?
Bureaucratic barriers preventing foreign producers from exporting their goods
Name 1- What is affect the of the trade war between China and the US in the energy department?
Higher prices for projects so buyer must pay more for clean energy.
Name 2- What are some Pros of Trade Control?
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Name 2 - What are some cons of Trade Control?
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Explain 2 - what are Product Standards, The Voluntary Export Restraint, or The Buy National Campaign in simple terms
PS- Are laws or regulations that protect the quality of a product
VER- When an exporting country voluntarily agrees to reduce volume of exports
BNC- To utilize patriotic feelings to encourage consumers to support the economy
Name 2- What is the effect of the trade war between China and the US on Agricultural businesses?
- Imports of corn, soybeans, nuts, lobster and other farm products from US cut
- Farm machinery companies (tractors) consequently affected
- Workers might be laid off