Examlex
Refer to the above diagram.A shortage of 160 units would be encountered if price was:
Trade Restrictions
Measures such as tariffs, quotas, and embargoes that countries impose to control the amount of trade across their borders.
Import-Substitution Policy
An economic strategy aimed at reducing dependence on imported goods by promoting domestic production of similar products.
Trade Restrictions
Measures implemented by a government to control or limit the import and/or export of goods and services, often to protect domestic industries.
Budget Deficit
The financial situation where a government's expenditures exceed its revenue over a specified period, leading to borrowing or the use of reserves.
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