ECONOMICS
TECHNOLOGY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
A limit on the amount of foreign goods that can come into a country.
|
|
|
Anything that slows down or prevents one country from exchanging goods with another.
|
|
|
A tax placed on goods when they are brought into one country from another country.
|
|
|
Products a country makes best that are demand on the world market.
|
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: -Import quotas control the amount or volume of various commodities that can be imported into the United States during a specified period of time. Quotas are established by legislation, Presidential Proclamations or Executive Orders.
Detailed explanation-3: -A quota is a type of trade restriction where a government imposes a limit on the number or the value of a product that another country can import. For example, a government may place a quota limiting a neighboring nation to importing no more than 10 tons of grain.
Detailed explanation-4: -For instance, the United States limits the number of Chinese car imports to 3 million per year. This import quota on foreign car products will help the domestic car manufacturing companies to increase their production and establish their footprint in the United States market with maximum profit.
Detailed explanation-5: -The Bilateral Quota: Under this system, quotas are set through negotiation between the importing country and the exporting country (or foreign export groups).