question archive Can import tariffs and quotas reduce the benefits of trade?Absolute AdvantageComparative AdvantageTariffsTariff Additional data: is the ability with which an increased number of goods and services can be produced and that too at a better quality as compared to competitors whereas, signifies the ability to manufacture goods or services at a relatively lower opportunity cost
Can import tariffs and quotas reduce the benefits of trade?Absolute AdvantageComparative AdvantageTariffsTariff Additional data: is the ability with which an increased number of goods and services can be produced and that too at a better quality as compared to competitors whereas, signifies the ability to manufacture goods or services at a relatively lower opportunity cost
Subject:EconomicsPrice: Bought3
Can import tariffs and quotas reduce the benefits of trade?Absolute AdvantageComparative AdvantageTariffsTariff Additional data:
is the ability with which an increased number of goods and services can be produced and that too at a better quality as compared to competitors whereas,
signifies the ability to manufacture goods or services at a relatively lower opportunity cost.
and quotas are restrictive trade policies meant to protect domestic producers, they differ in their ways. is a tax while quota puts a restriction on the quantity of import.
