Examlex
Which of the following is NOT one of the four basic tastes?
Tariffs and Quotas
These are trade policies where tariffs are taxes on imported goods, and quotas are limits on the amount of a good that can be imported.
Import Substitution
An economic policy aimed at replacing foreign imports with domestic production to promote local industries.
Foreign Competition
Competition that domestic companies face from companies located in other countries, influencing markets, pricing, and innovation.
Trade Restrictions
Measures such as tariffs, quotas, and embargoes that countries impose to control the amount of trade across their borders.
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