Don't Fence Me Out! (Barriers to Trade)
Source: Council for Economic Education (EconEdLink) | Type: Lesson
The concept of comparative advantage makes a strong case for free, unrestricted trade among nations. Yet, some people support the use of tariffs or quotas to restrict or stop the international flow of goods and services.These barriers to trade exist in most countries and have differing effects on producers and consumers in the countries involved. Recently the WTO (World Trade Organization) met in Seattle to discuss issues in trade, including trade barriers.
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