What is trade protection? A. A policy that promotes free trade between countries B. A policy that imposes restrictions on foreign trade to protect domestic industries C. A policy that encourages exports and discourages imports D. A policy that allows unrestricted flow of goods and services across international borders

What are the main types of trade protection policies? A. Tariffs, quotas, subsidies, and regulations B. Tariffs, quotas, subsidies, and free trade agreements C. Tariffs, subsidies, boycotts, and regulations D. Tariffs, quotas, embargoes, and subsidies

What is the purpose of a tariff? A. To restrict foreign trade and protect domestic industries B. To encourage exports and discourage imports C. To promote free trade between countries D. To encourage foreign investment in domestic industries

How does a quota affect trade? A. It increases the price of imported goods B. It limits the quantity of imported goods C. It provides financial support to domestic producers D. It eliminates import taxes and subsidies

What is the advantage of free trade over trade protection? A. It promotes competition and innovation B. It protects domestic industries from foreign competition C. It increases government revenue from import taxes D. It encourages domestic production of essential goods.