0
Generally speaking, an import quota will cause the price of the imported product to rise in anticipation that the number of say BMW's will be limited. Consumers and auto dealers know this so the price of the BMW will be increased to the level of price the market demands. A tariff on BMW imports brings revenue to the Government and at the same time causes the consumer to pay more to offset the BMW's cost to bring their product to market.
Wiki User
∙ 9y ago
Wiki User
∙ 14y agoQuota is the maximum amount of goods of a particular sort that can be imported legally into a country. The tarriff is a duty that is applied in monetary terms to the imported goods.
Add your answer:
Earn +20 pts
What is the difference between a tariffs and a quotas?
A tariff is a tax on an imported good. An import quota (as I assume you mean) is a limit on the amount of a good which is allowed to be imported. One regulates price, the other supply.
What is meant by the phrase free trade?
That international business is not limited by tariffs or quotas
Tariffs quotas and subsidies are examples of?
Trade Barriers
Tariffs quotas subsidies are example of?
Trade Barriers
What are the differences and similarities between trade barriers such as tariffs and quotas and embargoes?
they are alike because they trade barriers and they use imports to trade goods and to get goods.they are different because tariffs taxesimports,quotas limit the amount that can be imported while embargoes barnations imports
What is import liberalization?
Reducing or eliminating tariffs, quotas, regulations, taxes and other restrictions on imported goods.
What is the difference between a tariffs and a quotas?
A tariff is a tax on an imported good. An import quota (as I assume you mean) is a limit on the amount of a good which is allowed to be imported. One regulates price, the other supply.
What is meant by the phrase free trade?
That international business is not limited by tariffs or quotas
What are the three barriers of trade?
Quotas, Tariffs, VERs
What are the three trade barriers?
Quotas, Tariffs, VERs
Tariffs quotas and subsidies are examples of?
Trade Barriers
Tariffs quotas subsidies are example of?
Trade Barriers
What are the differences and similarities between trade barriers such as tariffs and quotas and embargoes?
they are alike because they trade barriers and they use imports to trade goods and to get goods.they are different because tariffs taxesimports,quotas limit the amount that can be imported while embargoes barnations imports
Differentiate between sales quotas and sales territories?
Sales quotas refer to specific numerical targets that salespeople are expected to achieve within a given time frame, typically in terms of revenue or units sold. On the other hand, sales territories are geographical areas allocated to sales representatives for them to manage and conduct sales activities within. Sales territories help distribute workload and optimize customer coverage, while sales quotas set performance expectations for individual salespeople.
What are nations doing when they're engaged in free trade with each other?
They are limiting the use of tariffs and quotas on each other's businesses.
Are there any tariffs quotas or embargoes in Sweden?
I am asking the same question! :(
What is meant by the phrase free?
That international business is not limited by tariffs or quotas
