Import quotas

Question

Import quotas

Quizplus · Accepted Answer

Import quotas set the maximum number of units of a good that can be imported, while tariffs are taxes on imported goods. Import quotas are still used by many countries, including the United States, to protect domestic industries from foreign competition. Choice B is incorrect because the United States does use import quotas. Choice C refers to rules of origin, which are related but different from quotas. Choice D is incorrect because tariffs and quotas are not the same thing.

Import Quotas