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WAEC Commerce 1997 Question 94

Question 94

Foreign Trade

A restriction on the quantity of a commodity that could be imported is known as

  1. A.licence
  2. B.price control
  3. C.quota
  4. D.tariff
  5. E.ban
Show the answer and explanation

Answer: C (quota)

Explanation

A quota limits the quantity that can be imported.