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WAEC Economics 2020 Question 44

Question 44

International Trade

A country is allowed to import just 50,000 tonnes of rice annually. This describes

  1. A.devaluation.
  2. B.tariff.
  3. C.embargo.
  4. D.quota.
Show the answer and explanation

Answer: D (quota.)

Explanation

A limit on the quantity that may be imported is a quota.