Question

Will give medal!
Which statement BEST reflects the difference between tariffs and quotas?

Tariffs raise prices on exports, while quotas set limits on imports.

Tariffs raise prices on imports, while quotas set limits on exports.

Tariffs raise prices on exports, while quotas set limits on exports.

Tariffs raise prices on imports, while quotas set limits on imports.

Answer 1

@yourstrulycx plz help

Answer 2

What is the definition of tariffs and quotas.

Answer 3

i would say B because a tariff is a tax placed on imported goods, while a quota limits the amount of a good that can be imported over a specified period of time. The price typically increases under both a tariff and a quota.

Answer 4

@Rockercats622

Answer 5

Tariffs are taxes, or the amount of money a country needs to pay for trading products. Quotas are the limitations on what is traded, how much is traded, how much is paid for each product traded,and where its traded. Tariffs are more beneficial to a country's economy because the amount of money paid for their products raises their country's GDP. Quotas aren't because they put limits on how much is paid, and that is what makes GDPs neutral.

Answer 6

Ok thanks to all of you!