Asked by Mikaela Forcum on May 06, 2024

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Limits on the quantity of a foreign good that can be imported into the domestic market are

A) import capacity limits.
B) import quotas.
C) tariffs.
D) export quotas.

Import Quotas

Import quotas are government-imposed limits on the quantity or value of goods that can be imported into a country, used to protect domestic industries and regulate international trade.

Tariffs

Taxes imposed by a government on imported goods, often to protect domestic industries from foreign competition.

  • Examine the impact of tariffs, quotas, and various trade restrictions on worldwide commerce and local markets.
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PJ
Pinki JangirMay 10, 2024
Final Answer :
B
Explanation :
Import quotas are limits on the quantity of a foreign good that can be imported into the domestic market. These quotas are typically set by the government as a way to protect domestic industries, limit competition, and control the balance of trade. Tariffs are taxes imposed on imported goods and export quotas are limits on the quantity of a domestic good that can be exported to other countries. Import capacity limits are not a commonly used term in international trade.