A limit on the amount of a particular good that may be brought into a country during a given period of time is called a(n)
A) import duty.
B) import deficit.
C) trade embargo.
D) import tariff.
E) import quota.

Question

Quizplus · Accepted Answer

An import quota is a limit on the amount of a particular good that can be brought into a country during a given period of time, typically with the goal of protecting domestic producers. Import duties, import tariffs, and trade embargoes are all forms of trade restrictions, but they do not specifically limit the amount of a particular good that can be imported. An import deficit is a situation in which a country imports more goods than it exports, but it is not the same as an import quota.

A Limit on the Amount of a Particular Good That