Disadvantages of trade restriction
Answer Text: Disadvantages of trade restriction-There will be availability of limited variety of goods in the country that will limit the consumer’s choices-May lead to production of low quality goods as there will be no competition for the producing firms-Other countries may also retaliate, leading to reduction in export from their country-The country is likely to be exposed to small market, should all countries restrict which may lead to reduction in trade.-As a result of the continued protection, some industries may develop a tendency of remaining young to still enjoy the protection, which limits the level of development
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