An import quota specifies
A)the amount of money that can be charged to any imported good.
B)the amount of taxes that must be paid on any imported good.
C)the maximum amount of a commodity that may be imported during a specified period.
D)the minimum amount of a commodity that may be imported during a specified period.

Question

Quizplus · Accepted Answer

An import quota is a government-imposed restriction on the quantity of a good that can be imported into a country during a specified period of time. It sets the maximum limit on the quantity of the imported commodity. Therefore, option C is the correct choice as it specifies the maximum amount that can be allowed to be imported.

An Import Quota Specifies