If a Quota Is Placed on a Good,then Imports of the Good

question 101

Multiple Choice

If a quota is placed on a good,then imports of the good _________,domestic production of the good _________,and domestic consumption of the good _________.

• A) increase;increases;increases
• B) increase;increases;decreases
• C) increase;decreases;decreases
• D) decrease;decreases;decreases
• E) decrease;increases;decreases

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Definitions:

Consumer Demand

The desire and ability of consumers to purchase goods and services at certain prices over a specific period of time.

Quick Response

A strategy aimed at reducing lead times across the supply chain to meet customer demand more efficiently.

On-Call Labour

A workforce management strategy where employees are called to work as needed, rather than having a fixed schedule.

Specialized Processes

Unique or highly specific operations developed to achieve particular objectives in manufacturing, service delivery, or technology, often requiring specialized skills or equipment.