Asked by abdualrahman alhajri on Jul 04, 2024
Verified
The country of Shampur has imposed a quantitative restriction on the number of luxury automobiles imported in a year.What type of trade restriction has Shampur used?
A) Quota
B) Embargo
C) Protective tariff
D) Revenue tariff
Quantitative Restriction
Measures imposed by governments to limit the quantity of goods that can be imported or exported over a specified period.
Luxury Automobiles
High-end cars that offer superior performance, comfort, and amenities, often associated with status, exclusivity, and a high price point.
Quota
A fixed share or a specific limit on goods or services, often imposed by governments on imports or exports.
- Acknowledge the assortment of trade restrictions and comprehend their consequences on worldwide business operations.
Verified Answer
LW
Leroy WatsonJul 11, 2024
Final Answer :
A
Explanation :
A quota is a type of trade restriction that limits the quantity of goods that can be imported or exported during a specified period. Shampur's action of imposing a quantitative restriction on the number of luxury automobiles imported fits the definition of a quota.
Learning Objectives
- Acknowledge the assortment of trade restrictions and comprehend their consequences on worldwide business operations.