Questions: Which is the most common trade barrier? a. Export tariff b. Quotas c. Embargo d. Import tariff

The answer is d. Import tariff

An export tariff is a tax imposed on goods being sent out of a country. While it can be used as a trade barrier, it is less common than import tariffs because countries typically encourage exports to boost domestic production and economic growth.

Quotas are limits on the quantity of a product that can be imported or exported during a given timeframe. They are used to restrict trade but are not as commonly employed as import tariffs.

An embargo is a government order that restricts commerce or exchange with a specified country or the exchange of specific goods. Embargoes are severe trade barriers but are less common and usually used for political reasons.

An import tariff is a tax imposed on goods brought into a country. It is the most common form of trade barrier because it directly affects the price of imported goods, making them more expensive and less competitive compared to domestic products. This encourages consumers to buy domestically produced goods, supporting local industries. Import tariffs are widely used by countries to protect their economies.