Asked by nadezhda kurilov on May 06, 2024
Verified
If demand for a product is increasing, an import tariff is less restrictive than an import quota.
Import Tariff
A tax imposed by a government on goods and services imported from other countries, intended to protect domestic industries and adjust trade balances.
Import Quota
A limit imposed by a nation on the quantity (or total value) of a good that may be imported during some period of time.
Restrictive
A term used to describe policies or measures that limit or control some form of activity or process.
- Analyze the impact that tariffs, quotas, and other forms of trade barriers have on markets within countries and across the globe.
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Learning Objectives
- Analyze the impact that tariffs, quotas, and other forms of trade barriers have on markets within countries and across the globe.
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