A.Distinguish Between a Tariff and a Quota

question 185

Essay

a.Distinguish between a tariff and a quota.
b.In what ways are tariffs and quotas similar?
c.In what ways are tariffs and quotas different?
d.Why might a foreign producer prefer a quota rather than a tariff?

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Definitions:

Primary Alkane

Alkanes where the carbon atoms are connected in a straight chain without any branches.

Gasoline

A volatile, flammable liquid made from crude oil or petroleum, used primarily as fuel in internal combustion engines.

Branched Alkane

Hydrocarbons featuring a tree-like structure, where carbon chains deviate from a straight chain due to side chains.

London Force

Weak, temporary van der Waals forces arising from the instantaneous polarization of molecules due to the movement of electrons.