SSC
INDIAN ECONOMY
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
The quantity of goods which can be exported
|
|
|
The quantity of goods which can be Imported
|
|
|
Both (a) and ((b)
|
|
|
None of these
|
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: -Tariffs are taxes on imports; quotas are quantity limits on how many imports can enter the country. Both tariffs and quotas increase the equilibrium price and decrease the equilibrium quantity in the domestic market, compared to free trade.
Detailed explanation-3: -The Tariff Quota: The tariff or customs quota is a widely acclaimed measure. The Unilateral Quota: The Bilateral Quota: The Mixing Quota: Import Licensing: