Import quotas
A) set the number of units of a good that can be imported.
B) set the minimum percentage of the value of a good that can consist of imported components.
C) are a tax on an imported good.
D) encourage freer trade.

Question

Quizplus · Accepted Answer

Import quotas set a specific quantity limit on the amount of goods that can be imported into a country. This limit can be set as a numerical quantity or as a percentage of domestic production. It is a type of trade barrier that restricts imports and protects domestic industries from foreign competition.

Import Quotas