Which of the following is an example of a trade barrier?
(1 point)
• capitalism
O tariff
• gross domestic product
O comparative advantage
tariff
The correct example of a trade barrier from the given options is a tariff.
To determine which of the options provided is an example of a trade barrier, we first need to understand what a trade barrier is. A trade barrier is any government-imposed restriction or policy that limits international trade activities. It is designed to protect domestic industries and businesses from foreign competition.
Now, let's look at the options provided:
1. Capitalism: Capitalism refers to an economic system based on private ownership of businesses and means of production, where individuals and companies make decisions about production and distribution. While capitalism can have an impact on international trade, it is not a trade barrier itself.
2. Tariff: A tariff is a tax or duty imposed on imported goods by a government. Tariffs are a common form of trade barrier and are designed to make imported goods more expensive, thereby protecting domestic industries from foreign competition. So, a tariff is an example of a trade barrier.
3. Gross Domestic Product (GDP): GDP is a measure of the total value of all goods and services produced within a country during a specific period. While GDP can have implications for international trade, it is not a trade barrier in itself.
4. Comparative Advantage: Comparative advantage is an economic principle that states that a country should specialize in producing and exporting goods and services in which it has a lower opportunity cost compared to other countries. While comparative advantage plays a role in international trade, it is not a trade barrier.
Therefore, among the options provided, the example of a trade barrier is a tariff.