People engage in trade mostly in order to _______
a. have access to a variety of goods (?)
b. encourage specialization in the economy
c. raise labor productivity at businesses
d. set prices for goods and services most efficiently
Which of these is a result of trade barriers?
a. Foreign manufacturers set prices in a place.
b. Local manufacturers have more economic power (?)
c. Raise labor productivity at business.
d. set prices for goods and services more efficiently.
I agree with your answers.
what is the answer for number 1
So what is the answer here help
The first answer is a.
The second answer is b.
People engage in trade mostly in order to have access to a variety of goods (option a). Trade allows individuals and businesses to obtain goods and services that may not be available or produced domestically. By engaging in trade, people can access a wider range of products, improving their overall standards of living and increasing consumer choice.
Now, regarding the result of trade barriers, the correct answer is b. Local manufacturers have more economic power. Trade barriers are restrictions or barriers imposed by governments to limit or control the flow of goods and services between countries. These barriers can take the form of import taxes (tariffs), import quotas, embargoes, or other regulations that make it more difficult or expensive to import goods from other countries.
When trade barriers are in place, domestic manufacturers or producers may face less competition from foreign manufacturers. This can give local manufacturers more economic power by reducing competition and allowing them to charge higher prices for their products. Trade barriers can protect domestic industries from foreign competition, but they can also limit consumer choice and lead to higher prices.
It's important to note that trade barriers can have both positive and negative effects on the economy, depending on the specific circumstances and goals of the country imposing the barriers.