ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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a decision to prevent certain goods from being imported?
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a tax placed on imported goods when they enter the country
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a tax placed on goods when they are purchased in the market place
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a limit to the number or amount of a foreign-produced good that is allowed into a country
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Detailed explanation-1: -What Is a Quota ? 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: -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-3: -quota, in international trade, government-imposed limit on the quantity, or in exceptional cases the value, of the goods or services that may be exported or imported over a specified period of time.
Detailed explanation-4: -A quota is a restriction or an upper limit fixed for use or availability or consumption of goods. The restriction can be for a variety of purposes including import and export of goods to meet domestic demand or encourage domestic production of goods.
Detailed explanation-5: -Activity Quota. Volume Quota. Profit Quota. Combination Quota. Forecast Quota. Revenue Sales Quota. 24-Nov-2021