The major difference between a tariff and a quota on an imported product is that a tariff produces revenue for the government.

Question

Quizplus · Accepted Answer

A tariff is a tax on imported goods, and the revenue generated from the tariff goes to the government. A quota, on the other hand, restricts the quantity of imported goods that can enter a country, but does not generate revenue for the government.

The Major Difference Between a Tariff and a Quota on an Imported