Trade Policy

Question 1

Explain import Quotas ⚔

Answer 1

They seek to control the physical level of imports and are a direct for of intervention

Question 2

Explain subsidies 💎

Answer 2

Are granted to home producers & essentially have the SA,e economic impact as taxes on imported goods

Question 3

Explain import tariffs ⚖

Answer 3

They are duties or taxes imposed on products imported into a country