ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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tariff
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quota
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embargo
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tax
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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: -An import quota is a limit on how much a specific good or type of good can be imported into the country in a certain time period. An export quota is a limit on how much of a specific good or type of good can be exported out of a country in a certain time period.
Detailed explanation-3: -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-4: -Activity Quota. Volume Quota. Profit Quota. Combination Quota. Forecast Quota. Revenue Sales Quota. 24-Nov-2021