The government of the Republic of Senna enforces tariffs and quotas to limit imported goods, while exports are subsidized. By using these instruments, the government seeks to achieve a surplus in the balance of trade. Based on this information, which approach most influences the Republic of Senna's approach to international trade?

Question

Erica Pearson

Business

6 May, 03:43

The government of the Republic of Senna enforces tariffs and quotas to limit imported goods, while exports are subsidized. By using these instruments, the government seeks to achieve a surplus in the balance of trade. Based on this information, which approach most influences the Republic of Senna's approach to international trade?

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Answers (1)

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Superman · Answer 1

Mercantilism

Explanation:

Based on the information provided within the question it can be said that the approach that most influenced the international trade was Mercantilism. This is a trade policy that is used in order to increase exports in a country while at the same time minimizing imports of the nation. This seems to be the inspiration of Republic of Senna's approach since they are enforcing tariffs and quotas to limit and control imported goods, while supporting and growing exports.