BUSINESS ADMINISTRATION
INTERNATIONAL MARKETING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Tariffs add a tax on exports, while quotas set limits on imports.
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Tariffs add a tax on imports, while quotas set limits on exports.
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Tariffs add a tax on exports, while quotas set limits on exports.
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Tariffs add a tax on imports, while quotas set limits on imports.
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Detailed explanation-1: -Which statement BEST reflects the difference between tariffs and quotas? Tariffs raise prices on imports, while quotas set limits on imports.
Detailed explanation-2: -The difference between quotas and tariffs Quotas restrict the quantity of a good imported from another country. Tariffs are a charge levied on the value of goods imported from another country.
Detailed explanation-3: -Key Differences Between Tariff and Quota The tariff is a tax charged on imported goods. The quota is a limit defined by the government on the quantity of goods produced in the foreign country and sold domestically.
Detailed explanation-4: -A quota limits the quantity of a good that can be imported into a country. A tariff is a tax placed on an import.