A quota is a:
A)quantity restriction.
B)price control.
C)form of consumer surplus.
D)means to combat black markets.

Name: A quota is a: A)quantity restriction. B)price control. C)form of consumer surplus. D)means to combat black markets.
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Question

Quizplus · Accepted Answer

A quota is a quantity restriction that limits the amount of a good that can be imported or exported. It is often used to protect domestic industries from foreign competition, but can also lead to less efficient allocation of resources and higher prices for consumers.

A Quota Is A