Examlex

Solved

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.


Definitions:

Price Reduction

A decrease in the selling price of goods or services, often used as a strategy to increase consumer demand or clear out inventory.

Void Contract

An agreement that lacks legal enforceability or is null from its inception due to certain legal deficiencies.

Installment Contract

A contract that requires periodic payments over time for the purchase of goods or services.

Substantial Impairment

Significantly diminished value, function, or condition of an asset or property.

Related Questions