An Import License Is

question 101

Multiple Choice

An import license is:

• A) a requirement that importers obtain a license in order to engage in international trade.
• B) a quantity restriction on imports that is negotiated with the foreign exporting country to freely restrict its exports.
• C) the use of government policy to protect domestic businesses from foreign competition.
• D) a tax on imports.

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Definitions:

Extreme

Representing a high degree of a quality or condition, often characterized by actions or opinions that are far from the norm or average.

Self-Categorisation Theory

A psychological theory explaining how individuals classify themselves and others into categories, affecting behavior and social identity.

Polarisation

The division into two sharply contrasting groups or sets of opinions or beliefs.

Outgroup

Any group that an individual does not belong to or identify with, often perceived as fundamentally different or alien.