specify the quantity of goods which can be imported.
(
This question was previously asked in
Shift 01/06/2023 8:30 AM - 11:30 AM
A
Tariffs
B
Export duties
C
Quotas
D
Goods and Service Tax
Correct Answer
Quotas
Detailed Explanation
Quantity of goods that can be imported is specified by:Quotas
1.Quotas are government-imposed restrictions on the quantity of specific goods that can be imported into a country.
2.They limit the volume of imports and are used to manage trade and protect domestic industries.
3.Tariffs (option 1) and export duties (option 2) are trade taxes, while the Goods and Services Tax (option 4) is a consumption tax, and they do not directly specify the quantity of goods that can be imported.
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