Which of the Following Is Considered the Most Effective Barrier

question 23

Multiple Choice

Which of the following is considered the most effective barrier to trade?

• A) export subsidy
• B) licensing requirements
• C) tariff
• D) quota
• E) imposition of product quality standards

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Definitions:

Legally Binding

An agreement or contract that is enforceable by law, where parties are obligated to fulfill their contractual duties.

Unionization

The process by which workers form or become members of a labor union to collectively bargain for better wages, working conditions, and benefits.

Public Sector

The part of the economy that is controlled by the government, encompassing public services and enterprises.

Collective Bargaining Agreement

A written contract negotiated through collective bargaining by employees, through their representatives, and their employer, dictating the terms of employment.