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WAEC Commerce 1995 Question 72

Question 72

Foreign Trade

Restricting the quantity of goods which may be imported into a country is achieved through

  1. A.dumping
  2. B.tariffs
  3. C.terms of payment
  4. D.terms of trade
  5. E.quotas
Show the answer and explanation

Answer: E (quotas)

Explanation

A quota fixes the maximum quantity of a good that may be imported.