In the context of international trade, 'Voluntary Export Restraint' is an example of:
A. Free trade agreement
B. Tariff barrier
C. Non-tariff barrier
D. Export promotion measure
Answer: Option C
Solution (By JKSSB Mock Tests)
A Voluntary Export Restraint (VER) is a non-tariff barrier under which an exporting country agrees to limit the quantity of exports to a particular country.
Explanation:
Indian agriculture is dominated by small and marginal landholdings, leading to challenges of scale, productivity and access to credit and technology.
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