Who benefits from an import quota on a good?

Question

Quizplus · Accepted Answer

An import quota benefits domestic producers of the good because it limits the amount of foreign competition, allowing domestic producers to sell more of their own product at a higher price. This protectionist policy may also result in higher profits for the domestic producers. Foreign producers may be negatively impacted as their access to the domestic market is limited. Import quotas generally do not benefit domestic consumers as they may face higher prices due to reduced competition. Foreign governments do not benefit from import quotas, as their exporters are limited in their access to the domestic market.

Who Benefits from an Import Quota on a Good