Identify the trade regulation concept described in each scenario. 1.country a and country b want to develop their respective export markets. both countries have highly developed agricultural, industrial, and service sectors. the countries decide to initially lower trade barriers and eventually remove them completely. 2.country a has an agrarian economy with an emerging industrial sector. to allow domestic industries to grow, country a applies quotas on all industrial products except those that are used as resources. 3.country a passes an economic policy that will indirectly give its own companies an advantage over country b’s companies. country b alleges that the policy violates the countries’ trade agreement and imposes retaliatory tariffs. a.)trade war b.)free trade c.)protectionism

1.Country A and country B want to develop

their respective export markets. Both

countries have highly developed agricultural,

industrial, and service sectors. The countries

decide to initially lower trade barriers and

eventually remove them completely. = Free Trade

2.Country A has an agrarian economy with an

emerging industrial sector. To allow domestic

industries to grow, country A applies quotas

on all industrial products except those that

are used as resources. = Protectionism

3. Country A passes an economic policy that

will indirectly give its own companies an

advantage over country B’s companies.

Country B alleges that the policy violates

the countries’ trade agreement and

imposes retaliatory tariffs. = Trade War

Explanation:

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question- above

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