GCE Economics 2013 Theory — Question 17

Question 17 of 18 from the General Certificate of Education (GCE) Economics 2013 Theory paper, with the correct answer and a full explanation.

Essay Question 8(a). What is an embargo?

Model answer

An embargo is a government-imposed restriction or ban on the importation or exportation of certain goods or services to or from a particular country. It is a trade barrier typically implemented for political or economic reasons; it is also known as a ban or prohibition.

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