An import quota
A) is a price ceiling imposed on an imported good.
B) is a price floor imposed on an imported good.
C) is a supply restriction limiting the quantity of a good that can be imported.
D) is a legislative requirement stating that firms which import some of their merchandise must hire a certain number of immigrant workers.

Question

Quizplus · Accepted Answer

An import quota is a supply restriction limiting the quantity of a good that can be imported. This restriction can be in the form of a certain quantity of the good that is allowed to be imported within a specified period or a percentage limit on the amount of goods that can be imported. It is an example of a non-tariff barrier to trade.

An Import Quota