Great Sand Dunes National Park and Preserve is located in Colorado! :)
Answer:
Feudalism
Explanation:
The system defining hierarchical system based on land ownership, protection & mutual obligation : is called as Feudalism.
It emerged in ancient history of Europe.
It consists of nobility class (land owners), known as 'lords'. They recompense knights, vessels & serfs - by granting them piece of land (called fiefdoms) return of which the latter fight for the former.
Quotas help domestic producers by <u>facilitating the sale of more domestic goods.</u>
A quota is a trade restriction that is imposed by the government to limit the products that can be imported or exported over a period of time. In other words, quota sets limits on the number of products that can be imported in a specified period.
<h2>Further Explanation</h2>
Quotas are used in international trade towards regulating the total quantity of trade in a particular country with other countries. When a particular country sets a numerical limit on the number of goods that can be imported, it has a lot of benefits for local producers.
Some of the benefits include
- It increases domestic productions and
- It helps in restricting foreign competition
Countries also used quotas to protect new or domestic industries that are not efficient, especially industries that are important to their economy or domestic industries that play a vital role in job production.
Countries always have the notion that if trade restrictions are imposed on products, it will lead to the followings:
- Job sustainability
- Increases the sales of locally produce goods
- Increases Tax revenue
In the United States, the agency that is saddled with the responsibility of overseeing international trade is the U.S customs and border protection agency.
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KEYWORDS:
- domestic goods
- products
- quota
- job
- tax
- revenue
