Asked by
Anthony Orabuena
on Nov 26, 2024
Verified
Economists prefer free trade to tariffs and prefer tariffs to import quotas.
Import Quotas
Restrictions imposed by a government on the quantity of a good that can be imported into a country, often used to protect domestic industries.
- Perceive the influence of tariffs, quotas, and free trade agreements on the efficiency of worldwide trading activities.
- Comprehend the economic rationale for and against free trade and the various barriers to trade.
Verified Answer
TM
Learning Objectives
- Perceive the influence of tariffs, quotas, and free trade agreements on the efficiency of worldwide trading activities.
- Comprehend the economic rationale for and against free trade and the various barriers to trade.