An import quota is a government-imposed restriction on the quantity of a specific good that can be imported. It limits the amount of foreign goods that can enter a domestic market, protecting domestic producers from foreign competition and stimulating local production.

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An Import Quota Is a

Question 92

Multiple Choice

An import quota is a

A) law that prevents ecologically damaging goods from being imported into a country.
B) government- imposed restriction on the quantity of a specific good that can be imported.
C) tariff imposed on goods that are dumped in the country.
D) market- imposed balancing factor that keeps prices of imports and exports in equilibrium.

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