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WAEC Economics 2011 Question 49

Question 49

International Trade

As one of the instruments of commercial policy, quota is

  1. A.a qualitative restriction on imports.
  2. B.a normal restriction on imports.
  3. C.a quantitative restriction on imports.
  4. D.an outright prohibition of imports.
Show the answer and explanation

Answer: C (a quantitative restriction on imports.)

Explanation

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