Barriers to Trade (Junior Cert Business Studies): Flashcards

Obstacles making foreign goods harder/costlier to compete

Tariffs, quotas, embargoes, subsidies

Cannot impose restrictions on other EU countries

Tax on imports to make them pricier than domestic products

Protect jobs, make local products competitive, generate revenue

Restriction limiting quantity of goods that can be imported

Directly limit how much of a product can enter a country

Complete ban on importing/exporting specific goods

Embargo

Health/safety concerns, political disagreements, sanctions

Major impact - beef is a key Irish export; lifting boosted economy

Govt financial support to domestic businesses to help compete

Make domestic goods cheaper or help reduce their costs

Govt subsidies to CIÉ for public transport services