Answer:
Option D: Increase the price of imports
Explanation:
Trade Barrier
This is defined as a restriction or anything that slows down or prevents one country from exchanging goods with another. They are enacted by government of a country. They includes: Tariff, quota and embargo
Tariff
This is simply defined as a form of tax that is placed on goods imported from abroad into a particular country. The purpose of a Tariff is to raise the price of the imported product.
Benefits of trade barriers
1. Protect domestic industries from competition.
2. Protect jobs and help provide extra income for the government.
3. Increases the Number of goods people can choose from and decreases the costs of these goods through increased competition.
Costs of trade barriers
1. Tariffs increase the price of imported goods and there is little competition from world markets means there is an increase in prices.
2. The tax on imported goods is passed along to the consumer so the price of imported goods is higher.
