The Fundamental Difference Between Quotas and Import Licenses as a Means

question 19

Multiple Choice

The fundamental difference between quotas and import licenses as a means of controlling imports is that:

• A) import licenses have greater flexibility over quotas.
• B) quotas impose specific limitations on trade, and import licenses take care of standards.
• C) quotas are imposed on export goods, and import licenses are imposed on import goods.
• D) for quotas, the exporting country sets the limits, but licenses are issued by the importing country.
• E) unlike licenses, quotas limit quantities on a case-by-case basis.

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Definitions:

Adhesion Belt

A protein complex located just below the tight junctions in epithelial cells, contributing to the formation of an adhesive junction that holds cells together.

Apocrine

A type of gland that secretes substances (such as sweat) by shedding part of the cell, found in various parts of the body including armpits and groin.

Holocrine

A mode of secretion in which the entire cell disintegrates to release its substances, often seen in sebaceous glands.

Exocrine

Pertaining to glands that secrete their products through ducts either onto the surface of an organ or outside the body.