Explain why tariff, quotas, exchange control, and trade agreements are government actions that we should be concerned about as we evaluate a country?

Foundations of Business - Standalone book (MindTap Course List)
4th Edition
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Chapter3: Exploring Global Business
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Explain why tariff, quotas, exchange control, and trade agreements are government actions that we should be concerned about as we evaluate a country?

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INTRODUCTION

Tariff, quotas, exchange control, and trade agreements are government actions that profoundly affect the global economy. Governments use these instruments to protect their own industries and services, to promote their own economic development, and to regulate the supply and demand of goods and services in the international market. As such, they have the potential to create both positive and negative impacts on the global economy, and should be analyzed carefully to ensure the best possible outcome.

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