Question

If a country were to place a limit on the number of cars that could be imported in a year, it would be an example of what kind of trade regulation?

Answer 1

If a country were to place a limit on the number of cars that could be imported in a year, it would be an example of a Quota kind of trade regulation.

 

A quota is a trade limitation put in place by the government that restricts how much or how much money may be spent on items that a nation can import or export at one time. Quotas are used by nations in international trade to control the amount of trade that occurs between them and other nations. A quota is a government-imposed restriction on the amount of products or services that may be exported or imported over a given time period, or in rare circumstances, the value. A country's ability to import a certain number of items is restricted by an import quota. For instance, the US might set a 2 million annual import cap on Japanese cars. Quotas will aid domestic suppliers by lowering imports.

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