Use the information below to answer the following questions.
Fact 15.3.2
With free trade between Australia and Canada, Australia would export beef to Canada.But Canada imposes an import quota Australian beef.
-Refer to Fact 15.3.2.Canadian gains from trade will _______and Australian gains from trade will _______.

Question

Quizplus · Accepted Answer

Canadian gains from trade will decrease because the import quota limits the amount of beef that can be imported from Australia, reducing the benefits Canada could obtain from cheaper or better-quality Australian beef. Australian gains from trade will also decrease because the quota restricts their export opportunities to Canada, limiting their potential profits and market access.

Use the Information Below to Answer the Following Questions