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n economics, often a nation has one product or industry that becomes better developed than other products or industries. Over time, that nation may become known for being a reliable producer in that industry.
Trade barrier
Tariffs raise prices on imports, while quotas set limits on imports.
the Republic of South Africa
Who will get the goods and services produced?
South Africa
minerals
specialization
sell it
Which statement BEST reflects the difference between tariffs and quotas?
Trade barrier
Tariffs raise prices on imports, while quotas set limits on imports.
the Republic of South Africa
Who will get the goods and services produced?
South Africa
minerals
specialization
sell it
South Africa is MOST known for its exporting of
Trade barrier
Tariffs raise prices on imports, while quotas set limits on imports.
the Republic of South Africa
Who will get the goods and services produced?
South Africa
minerals
specialization
sell it
Although this nation has made great progress in protecting the personal freedoms of its citizens since apartheid ended here in 1994, many people still live in poverty and the nation is faced with crime, corruption, and an HIV/AIDS epidemic.
Trade barrier
Tariffs raise prices on imports, while quotas set limits on imports.
the Republic of South Africa
Who will get the goods and services produced?
South Africa
minerals
specialization
sell it
When a country specializes in producing a product, overproduction can occur. What do nations do with the extra products?
Trade barrier
Tariffs raise prices on imports, while quotas set limits on imports.
the Republic of South Africa
Who will get the goods and services produced?
South Africa
minerals
specialization
sell it
Which question is MOST LIKELY a fundamental economic question?
Trade barrier
Tariffs raise prices on imports, while quotas set limits on imports.
the Republic of South Africa
Who will get the goods and services produced?
South Africa
minerals
specialization
sell it
Imposing some sort of cost on trade that raises the price of the traded products is MOST LIKELY an example of
Trade barrier
Tariffs raise prices on imports, while quotas set limits on imports.
the Republic of South Africa
Who will get the goods and services produced?
South Africa
minerals
specialization
sell it
This African nation is a major world supplier of gold, diamonds, and platinum.
Trade barrier
Tariffs raise prices on imports, while quotas set limits on imports.
the Republic of South Africa
Who will get the goods and services produced?
South Africa
minerals
specialization
sell it
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