Final answer:
Trade restrictions known as embargoes are used to sanction countries, while government interactions with other nations are defined by foreign policy, and the collective economies of the world are part of the global market. Governments can encourage or discourage trade using tariffs, import quotas, and nontariff barriers as part of protectionism.
Step-by-step explanation:
The trade restrictions used to punish a country for violating international law are known as embargoes. Government plans for interacting with other countries are referred to as foreign policy. The interaction of the economies of all the world's nations is collectively termed the global market.
When governments want to encourage or discourage trade, they may employ various tools such as tariffs, import quotas, and nontariff barriers. These tools are part of protectionist policies that aim to protect domestic industries and workers from foreign competition. A tariff is a type of tax placed on imported goods, making them more expensive in order to encourage the consumption of domestic goods. Import quotas restrict the number of goods that can be imported, limiting supply and influencing market prices. Nontariff barriers include a variety of regulatory and policy measures that can impede international trade flows. Together, these tools affect the global market and international trade patterns, influencing jobs, wages, and working conditions.