Examlex
In today's world, savvy managers recognize:
Free Trade
A policy wherein a government does not discriminate against imports or interfere with exports by applying tariffs (to imports) or subsidies (to exports).
Tariffs
Government levies on goods brought into the country.
Import Quotas
Import Quotas are government-imposed limits on the quantity or value of goods that can be imported into a country, typically used to protect domestic industries and control trade balances.
Acquired Comparative Advantage
An advantage a country develops over time in producing certain goods or services, often through investment in education, infrastructure, or technology.
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