it has its own problem.
Yes, as are tariffs and limiting the import of certain goods.
Import restrictions may increase or decrease the prices of commodities. Import restriction implies the unavailability of best supply or product in the market, resulting in second best product to mount sales. This can acquire higher prices under restricted supplies. On the other hand, restricted supplies will promote domestic producers to enter the market. Hence resulting in the more domestic competition, leading to reduced prices. Considering the technological aspect, import restriction will cause in lag in technology. Hence using out dated technology may actually increase the prices. Gradpoint: they cause prices to rise
What would be one effect of import substition on the balance of trade of a country
chnage in consumer's equilbrium due to change in income of the consumer..known as income effect.
it has its own problem.
Yes, as are tariffs and limiting the import of certain goods.
Set a limit to consumer.
if an American consumer buys a car from Japan then it is a type of import
the top import is consumer goods
Import restrictions may increase or decrease the prices of commodities. Import restriction implies the unavailability of best supply or product in the market, resulting in second best product to mount sales. This can acquire higher prices under restricted supplies. On the other hand, restricted supplies will promote domestic producers to enter the market. Hence resulting in the more domestic competition, leading to reduced prices. Considering the technological aspect, import restriction will cause in lag in technology. Hence using out dated technology may actually increase the prices. Gradpoint: they cause prices to rise
import quoata
Import restrictions may increase or decrease the prices of commodities. Import restriction implies the unavailability of best supply or product in the market, resulting in second best product to mount sales. This can acquire higher prices under restricted supplies. On the other hand, restricted supplies will promote domestic producers to enter the market. Hence resulting in the more domestic competition, leading to reduced prices. Considering the technological aspect, import restriction will cause in lag in technology. Hence using out dated technology may actually increase the prices. Gradpoint: they cause prices to rise
Effect of interest rate on consumer finance?
What would be one effect of import substition on the balance of trade of a country
yes
chnage in consumer's equilbrium due to change in income of the consumer..known as income effect.