1. Which of the following is a likely result of trade barriers?
A. reduced competition
B. lower prices
C. more choices
D. increase in imports
2. Which of the following is a feature of a developed country?
A. high tariffs
B. lower standards of living
C. a strong economy
D. lower productivity
1. To determine which option is a likely result of trade barriers, we need to understand what trade barriers are. Trade barriers refer to government-imposed restrictions on the flow of goods and services across national borders. These barriers can include tariffs, quotas, subsidies, and other regulations that can limit international trade.
Option A: Reduced competition - Trade barriers can reduce competition by limiting the number of foreign companies that can enter a domestic market. This can lead to a decrease in competition among domestic firms, potentially resulting in reduced competition.
Option B: Lower prices - Trade barriers can actually increase prices by limiting competition, reducing the availability of cheaper imported goods and services.
Option C: More choices - Trade barriers can reduce choices by limiting the access to foreign goods and services, potentially reducing the variety of options available in the domestic market.
Option D: Increase in imports - Trade barriers are typically designed to restrict imports rather than promote them. Therefore, it is unlikely that trade barriers would result in an increase in imports. Instead, they aim to protect domestic industries by limiting competition from foreign imports.
Based on this analysis, the likely result of trade barriers would be reduced competition, so the correct answer is A. Reduced competition.
2. To identify the feature of a developed country, we need to understand what characterizes a developed country. Developed countries generally have advanced economies, high levels of industrialization, and higher standards of living compared to developing countries.
Option A: High tariffs - Developed countries often have lower tariffs and trade barriers, as they tend to have well-established industries and can compete globally without needing significant protection.
Option B: Lower standards of living - Developed countries typically have higher standards of living compared to developing countries due to their advanced economies, infrastructure, and social development. Therefore, lower standards of living are not a characteristic of a developed country.
Option C: A strong economy - A strong economy is a typical feature of a developed country. Developed countries generally have stable and diverse economies with advanced industries, high GDP per capita, and a well-developed infrastructure.
Option D: Lower productivity - Developed countries typically exhibit higher levels of productivity due to investments in technology, education, and infrastructure. Lower productivity would not be a feature of a developed country.
Based on this analysis, the correct answer is C. A strong economy.