An Import Quota Is an Example of

question 77

Multiple Choice

An import quota is an example of

• A) a price ceiling.
• B) a price floor.
• C) a queuing device.
• D) a quantity restriction.

---

Definitions:

Trade

The exchange of goods and services between parties.

Imports

Goods or services brought into one country from another for the purpose of sale.

Exports

Goods or services produced in one country and sold to buyers in another, contributing to a nation's economy by generating income and employment.

Equilibrium Price

Equilibrium Price is the market price at which the quantity of goods supplied equals the quantity of goods demanded.