Q1 of 31 Page 4

Why is ‘tax’ on imports known as a trade barrier?[CBSE 2011]

Tax on imports is a trade barrier because it is a restriction set by the government to regulate foreign trade and what kind of goods is traded.

Explanation: Government can decrease imports by increasing tax and increase imports by reducing the tax on any good.

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2

Which one of the following is not a characteristic of ‘Special Economic Zone’? [CBSE 2012]

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Which organization lays stress on liberalization of foreign trade and foreign investment? [CBSE 2012 , 2014]

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What is meant by ‘fair globalization’?[CBSE 2013]

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Name an important barrier on foreign trade. [CBSE 2014]