A unilateral method of protecting domestic producers from __________ by imposing a limit on the maximum volume of allowable imports is known as a quota.

Question

Quizplus · Accepted Answer

A quota is a unilateral method of protecting domestic producers from foreign competition by imposing a limit on the volume of allowable imports. Tariffs are another unilateral method of protecting domestic producers, but they involve imposing a tax on imported goods rather than a limit on their volume. Subsidies involve providing financial support to domestic producers, which can help them compete with foreign producers, but this does not involve imposing a limit on imports. Predatory loans are a form of unfair lending practices, which are not related to protecting domestic producers from foreign competition.

A Unilateral Method of Protecting Domestic Producers from __________ by Imposing