Using Three Examples,describe How Nontariff Barriers Are Used to Restrict

question 34

Essay

Using three examples,describe how nontariff barriers are used to restrict imports.

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Definitions:

Cost-Saving

A reduction in expenses that increases net income and cash flow, which can be achieved through various methods like improving efficiency or negotiating better terms with suppliers.

Processed Item

An item that has undergone a series of actions or steps to bring it to a specified state, often referring to manufactured or packaged goods.

Lead Time

The elapsed time between starting a unit of product into the beginning of a process and its completion. Also called throughput time.

Elapsed Time

The amount of time that has passed from the beginning of an event or activity to a specific point.