A quota system which allows a certain specified quantity of a commodity to be imported duty free or at a low rate of import duty is

Related MCQs

• The quota system in which domestic producers of a quota fixing country are required to make use of both domestic raw materials and a specified proportion of imported raw materials to produce a product
• Once import quota is levied on a commodity, the domestic price of the commodity
• Under the unilateral quota system, the autonomously fixed quota may either be
• When a uniform rate of duty is imposed on all similar commodities irrespective of the country from which they are imported, it is called
• A tariff or import duty which are a combination of the ad valorem and specific duty
• When government levies import duties which varies with prices of commodities imported , it is called
• An increase in domestic production of goods due to imposition of import quota is called
• The physical limitation of quantities of different products to be imported from foreign countries within a specified period of time is called
• Import quotas may be fixed either in terms of quantity or
• By restricting imports through the quota system, the deficit is