GK
INDIAN ECONOMY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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which inmstrument(s) is/are used to restrict imports?
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Quota
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Tariff
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Both Quota & Tariff
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None of these
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Explanation:
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: -Any one of a series of tariff and no-tariff barriers imposed by a importing nation to control the volume of goods coming into the country from other countries.
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