Policies That Are Designed to Reduce Barriers to International Trade

question 28

Multiple Choice

Policies that are designed to reduce barriers to international trade are known as:

• A) trade deficit policies.
• B) free trade policies.
• C) protectionist policies.
• D) import quotas.

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Definitions:

Adapting

The process of making adjustments or changes in order to suit new conditions or environments.

Commercializing Innovation

The process of bringing new and innovative products or services to the market, turning ideas into commercial successes.

New Ideas

Original or innovative thoughts, concepts, or approaches that have not been previously implemented or explored.

Reduced Costs

refers to decreases in expenses or outlays, often achieved through efficiency improvements, negotiations, or adopting new technologies.