Import quotas _______ the price of imported goods and _______ the quantity consumed in the nation imposing the quota.

Question

Quizplus · Accepted Answer

Import quotas limit the quantity of goods that can be imported, which typically leads to higher prices due to reduced supply. Consequently, with higher prices and less availability, the quantity of these goods consumed within the country imposing the quota usually decreases.

Import Quotas _______ the Price of Imported Goods and _______

Import Quotas _ the Price of Imported Goods and _