Which best describe why countries establish limits on trade? check all that apply.

to force domestic industries to compete

to restrict foreign influence in a sector

to restrict importation of a foreign good

to raise the price of foreign goods

to punish other countries

Out of the options provided, the options that best describe why countries establish limits on trade are:

When countries establish a limit on trade by restricting foreign influence in a sector, such restrictions are also known as protectionism.

Protectionism refer to Economic policies in which a particular country restricts the imports of other countries using some method. Some of these methods include

To restriction importation of foreign goods: countries that restrict the importation of foreign goods are doing so to protect workers and companies in their economy against competitions by a foreign company.

For example, the united states limit the quantity of sugar that is imported into the United States.

The United States introduced this policy to cut down the supply of sugar. This policy also increases the prices of sugar.

To punish other countries: this is also called sanctions. It is a penalty that is imposed on another country. Countries can establish limits on trade as a sanction and such sanctions can be in any form such as:

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There are several reasons why a country would impose limits on trade including:

When a country does not like that there is too much foreign influence in a sector on account of high importation of foreign goods, they could impose limits to reduce the importation of those goods thereby reducing the foreign influence.

The limits imposed would increase the price of those foreign goods such that less people buy the goods. Sometimes trade limits can be imposed to punish a country for engaging in a certain course of action such as the U.S. with Russia over the Ukraine.

In conclusion, there are several reasons for trade limits.

Find out more on trade limits at link.

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