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- The aim of a tariff is to: (a) maximise total surplus. (b) protect domestic consumers. (c) protect domestic producers. (d) create deadweight loss.Countries take measures to protect their local industries from foreign competition. In terms of this statement evaluate tariffs and quotas as instruments that can be used to regulate international trade.Describe the structure of the tariff in the industrial countries?
- The World Trade Organisation overseas multilateral agreements between many countries. Discuss the three principals on which the international General Agreement on Tariffs and Trade (GATT) is based.Using corporate examples of your choice explain the two following concepts:Two-part tariffs and Dumping pricingAnalyze the impact of the tariff on domestic production, consumption, and imports of solar panels. Include a graph with properly labeled axes, demand and supply curves, and tariff levels to illustrate your answer.
- Analyze and explain when a firm should consider expanding from strictly domestic trade to international trade. What should it consider when becoming further involved in international trade?Draw a graph and explain the impact of ITAC’s anti-dumping duties on the market for cement in South Africa.The long-term trend in barriers to trade can be characterized as follows: Group of answer choices The number of claims brought to the WTO dispute resolution department has skyrocketed. Trade barriers have generally increased, and means of trade have generally been increased. Trade barriers have generally been reduced, and means of trade have generally been increased. The long-term trend has been the steady increase in tariffs and import quotas.