Asked by Laura Resendez on May 17, 2024
Verified
A ________ limits the quantity of imported merchandise, thus minimizing competition faced by domestic products.
A) tariff
B) duty
C) trading bloc
D) trade agreement
E) quota
Quota
A fixed, limited amount or number of something, such as goods or people.
Imported Merchandise
Goods or products that are brought into one country from another, subject to regulations and taxes by the importing country.
Competition
The rivalry between companies selling similar products and services with the goal of achieving revenue, profit, and market share growth.
- Become familiar with the effects of tariffs and trade agreements on the worldwide marketing landscape.
Verified Answer
MH
Moazzam HossainMay 22, 2024
Final Answer :
E
Explanation :
A quota limits the quantity of imported products that can enter a country over a specified period. This restricts competition from foreign goods and protects local manufacturers.
Learning Objectives
- Become familiar with the effects of tariffs and trade agreements on the worldwide marketing landscape.