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What Are the Two Main Issues Involved in Keeping Agencies

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Essay

What are the two main issues involved in keeping agencies fiscally accountable? Please give examples.


Definitions:

Quotas

Quantitative limits set by governments on the amount of specific goods or services that can be imported or exported during a specified time frame.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually do pay.

Quota Rights

Licenses or permissions issued by a government that allow specific quantities of goods to be imported or exported.

Economic Welfare

The overall well-being and standard of living of people in terms of the quantity and quality of goods and services available to them.

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