BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -A quota is a government-imposed trade restriction that limits the number or monetary value of goods that a country can import or export during a particular period. Countries use quotas in international trade to help regulate the volume of trade between them and other countries.

Detailed explanation-2: -The main types of trade barriers used by countries seeking a protectionist policy or as a form of retaliatory trade barriers are subsidies, standardization, tariffs, quotas, and licenses.

Detailed explanation-3: -Tariff rate quotas permit a specified quantity of imported merchandise to be entered at a reduced rate of duty during the quota period. Once the tariff-rate quota limit is reached, goods may still be entered, but at a higher rate of duty.

Detailed explanation-4: -An embargo is a trade restriction, typically adopted by a government, a group of countries or an international organization as an economic sanction. Embargoes can bar all trade, or may apply only to some of it, for example to arms imports.

Detailed explanation-5: -Two Main Types of Import Quotas An absolute quota sets the amount of a good that can be imported in a period. Once that amount is reached, no more can be imported until the next period. A tariff-rate quota combines the concept of a tariff into the quota.