McqMate
| Q. |
'Quota' is - |
| A. | tax levied on imports |
| B. | imports of capital goods |
| C. | limit on the quantity of imports |
| D. | limit on the quantity of exports |
| Answer» C. limit on the quantity of imports | |
|
Explanation: An import quota is a limit on the quantity of a good that can be produced abroad and sold domestically. It is a type of protectionist trade restriction that sets a physical limit on the quantity of a good that can he imported into a country in a given period of time. The primary goal of import quotas is to reduce imports and increase domestic production of a good, service, or activity, thus "protect" domestic production by restricting foreign competition. |
|
View all MCQs in
Economics (GK)No comments yet