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1998 WAEC Economics Theory Why does a country restrict her international trade? 

Economics
WAEC 1998

Why does a country restrict her international trade? 

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Explanation

 A country may impose restriction on trade for the following reasons:
(i) To raise revenue.
(ii) To protect infant industries.
(iii) To maintain high level of employment.
(iv) To prevent the country from becoming a dumping ground.
(v) Restriction may serve as a retaliatory measure.
(vi) To prevent the importation of harmful goods.
(vii) To correct a deficit in the balance of payment.
(viii) To promote self - sufficiency


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WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
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WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
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