Question

2. Explain the relation between liberalisation of foreign trade and trade barriers?​

Answer 1

Answer:

Liberalisation of foreign trade implies removal of trade restrictions or barriers set by the government. Trade barriers, on the other hand implies restrictions imposed by the government on trade. b. Government uses trade barriers to make decisions of the entry of goods and its quantity in the country

Explanation:

The following points state the relation of liberalisation of foreign trade and trade barriers

(i) Liberalisation of foreign trade refers to removing barriers or restrictions set by the government.

(ii)Governments can use trade barriers to

increase/decrease foreign trade and to decide what kinds of goods and how much of each should come into the country. On the contrary, the government has much less restrictions. Business are allowed to make decisions freely about what they wish to import or export.

(iii) Trade barriers aim to protect the domestic producers from foreign competition. While in the case of liberalisation the government wants to improve the performance of domestic producers.

(iv) Trade barriers refer to the laws, institutions or

practices which make trade between countries more difficult or expensive than trade within countries.

For example, tax on imports, limitation on imported goods i.e. quotas, etc. While removing such barriers or restrictions set by government is called liberalisation of trade.

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Answer 2

Answer:

Liberilastion of foreign trade implies removal of trade restrictions. or barrier set by the government. Trade barrier implies restrictions imposed by the government on trade. Government used trade barriers to make decisions of the entry of goods and it's quantity of the country.

Removing barriers with the liberalisation of trade, business are allowed to make decisions freely about what they wish to import or export, The government impose lesser restrictions than before and is therefore and is therefore, said to be more liberal.

To increase , decrease or regulate foreign trade. To decide what kinds of goods and how much of each should come into the country from foreign competition.

Explanation:

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