NECO Commerce 2023 Objective — Question 26

Question 26 of 50 from the National Examinations Council (NECO) Commerce 2023 Objective paper, with the correct answer and a full explanation.

Government-imposed trade barriers that prohibit the import or export of certain goods for a variety of reasons are called (a) tariffs (b) quotas (c) embargoes (d) subsidies

A. tariffs
B. quotas
C. embargoesCorrect
D. subsidies

Explanation

An embargo is a government-imposed ban that prohibits the import or export of certain goods to or from a particular country, often for political or security reasons.

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