Discuss the Differences Between a Tariff and a Quota

question 93

Essay

Discuss the differences between a tariff and a quota.Explain why quotas are considered to be a greater threat to competition than tariffs.

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Definitions:

Activities Control

Management processes that oversee, regulate, and guide operational activities within an organization to ensure they align with set objectives.

Just-In-Time (JIT) Scheduling

An inventory strategy companies employ to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, thereby reducing inventory costs.

Materials

Physical substances or components used in the production of goods or in the execution of projects and services.

Workstation

A specific area or desk equipped with the necessary tools and technology for an individual to perform their job tasks.