Measures to reduce barriers to foreign trade.

                                                                                                                                 

MBA

Business Environment

ASSIGNMENT

 

Course Code: MMPC-003

Assignment Code: MMPC-003/TMA/JULY/2022 

Coverage : All Blocks

6. Write notes on the following: 

a) Measures to reduce barriers to foreign trade.

International trade is critical for economic growth and development as it allows countries to access goods and services that are not produced domestically and promotes specialization, innovation, and increased efficiency. However, many countries face barriers to foreign trade, which can limit their ability to participate fully in the global economy. In this article, we will discuss the measures that can be taken to reduce barriers to foreign trade. 

Tariff Reduction Tariffs are taxes levied on imported goods, which increase their price and make them less competitive in the domestic market. To reduce barriers to foreign trade, countries can reduce or eliminate tariffs on imported goods. This can make imported goods cheaper for consumers and promote competition in the domestic market, leading to lower prices and increased efficiency.

(For the full set of answers of MBA assignments/study notes WhatsApp me : +91 99 471 471 85 or purchase it from here)