Discuss the Differences Between a Tariff and a Quota

question 93

Essay

Discuss the differences between a tariff and a quota.Explain why quotas are considered to be a greater threat to competition than tariffs.

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Definitions:

Constitution

A system of fundamental principles or established precedents according to which a state or other organization is governed; often refers to a written document that outlines these principles.

Ratification Vote

A vote by lawmakers or the general public to formally approve a proposed constitution, amendment, or treaty, making it officially valid and binding.

Amend

To make changes or modifications to legal documents, laws, or constitutions, often to improve or update them.

U.S. Constitution

The supreme law of the United States, establishing the framework of national government and fundamental principles and rights.