Both tariffs and quotas are instruments used to impede or reduce trade. Both quotas and tariffs place restrictions on the quantity of imported commodities.
<h3>What are exports and imports?</h3>
Exports: The products and services that a nation produces at home and sells to clients or enterprises abroad are known as exports. The nation selling its goods and services benefits from an infusion of money as a result. Businesses may opt to export their products and services to another country because it allows them to:
Take part in international trade
reach out to new markets
raising sales
Imports : are the products and services that a company or customer buys from another nation. The nation that is making the purchases sees money leave the country as a result. Although most nations want to import less products and services than they export in order to boost domestic revenue, a high amount of imports can be a sign of an expanding economy. This is especially true if the majority of the imports are productive assets, such machinery and equipment, which the receiving nation may utilize to raise the productivity of their own economy.
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Answer:
$96,000
Explanation:
Production 26,000 units
<u>Materials Purchase Budget</u>
Production Materials Required (5×26,000 units) 130,000
Add Budgeted Closing Materials (50,000×20%×5) 50,000
Total Materials 180,000
Less Budgeted Opening Inventory (4,000×5) (20,000)
Budgeted Materials 160,000
Material Cost per pound $0.60
Total Material Cost $96,000
Therefore, the materials purchases budget will be for the month ending April 30 will be $96,000.
Answer: Option (a) is correct.
Explanation:
Income elasticity of demand measures the responsiveness of quantity demanded with change in the income level of an individual.

Income of an individual has a positive relationship with the demand for normal goods and has a negative relationship with the demand for inferior goods.
Answer:The correct option is C = 0.98%
Explanation:
Ok so we do 25.50 - 2.80 because its being taken out
then we divide the answer we get by 10
or multiply it by .10
Hope this helps :)