An import quota is a A) tax on import quantities above the legal limit. B) way to increase tariff revenues for the exporting cou
ntry. C) legal limit on the amount of a good that can be imported into a country. D) legal incentive for members of WTO to increase their exports of a good or service.
An import quota is C) a legal limit on the amount of a good that can be imported into a country. This differs from a tariff which is a A) tax on import quantities above the legal limit, or at all levels.
<u>C) legal limit on the amount of a good that can be imported into a country.</u>
As a trade restriction, an import quota establishes a physical limit of the quantities (or the value) of a product or good that can be imported from foreign countries in a given period of time.
Some of its purposes are to protect domestic industries by restricting foreign competition, to direct the foreign exchange resources of the country for more high-priority import items, to reduce the balance of payments deficit faced by the country that exports the product, among others.
The bill of rights was adopted for many reasons, including to protect the rights and liberties of the states from abuse of power by the newly created government<span> </span>
