Veylia has imposed a quantitative restriction on the number of luxury automobiles imported in a year.What type of trade restriction has Veylia used?
A)quota
B)embargo
C)protective tariff
D)revenue tariff

Question

Quizplus · Accepted Answer

Veylia has imposed a limit on the number of luxury automobiles that can be imported in a year. This type of trade restriction is known as a quota. Quotas are quantitative restrictions imposed by a country on the amount or number of products that can be imported/exported within a specified period. It helps to limit the amount of foreign competition in the domestic market, reduce imports, and protect domestic industries.

Veylia Has Imposed a Quantitative Restriction on the Number of Luxury