Question

Explain how a country can regulate imports and exports to manage resources. Include a specific example

Answer 1

Trade arrangements, Trade protectionism, and the lower value of the currency are the defined ways to regulate the imports and exports of a country.

What are imports and exports?

Import arises when a country brings in the goods from the outside countries whereas when a country provides goods to other countries, then it is treated as exports.

Trade protectionism is a situation where the country is provided with benefits in the form of tariffs that increase the import prices and utilizes the subsidies. Trade arrangements occur where the export prices are rising by making reductions in trade protectionism. The lowering of currency values can be applied by making the rates of interest to be lower.

For instance, the government reduces taxes on some industries in order to raise production in those specified areas.

Therefore, the imports and exports can be regulated by making the currency value lower and by applying trade protectionism and trade arrangements.

Learn more about the imports and ex[ports in the related link;

brainly.com/question/26428996

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