Which of the Following Is True of Quotas in Trade

question 39

Multiple Choice

Which of the following is true of quotas in trade?

• A) It is used most commonly to restrict trade.
• B) It is used to encourage strategic alliance.
• C) It is used to increase domestic competition.
• D) It is the tax breaks given by the host government.
• E) It is a form of tax collected on imported goods.

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Definitions:

International Standards

Specific criteria and guidelines established by international bodies to ensure that products, services, and processes are safe, reliable, and consistently perform as intended across different countries.

Status Symbols

Objects or signs that individuals use to indicate their social position or economic wealth.

Survives On

A phrase typically used to describe the essential resources or conditions necessary for an organism, business, or system to continue existing or functioning.

Discretionary Income

The sum of money a person has left for investment, saving, or spending after covering taxes and basic living costs.