Question

Barriers to trade reduce the amount of output that can be supplied by foreign companies and, as a result, cause prices in the market to be ______ than they would otherwise be. This results in consumers buying ______ output.Multiple choice question.

Answer 1

Barriers to trade reduce the amount of output that can be supplied by foreign companies and, as a result, cause prices in the market to be higher than they would otherwise be. This results in consumers buying less

What are barriers to trade?

Barriers to trade refers as certain hurdles which restrict an individual or organisation to practice trade activity effectively. These barriers can be regulatory barriers, physical barriers and so on.

These trade barriers are launched to support small-scale business and introducing jobs in the industries to prevent unemployment.

These trade barriers results in high prices in the market due to reduce amount output supplied by foreign companies. This will result in less buying behaviour by consumer.

Learn more about barriers to trade, here:

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