Explain how a US QUOTA on foreign dairy would affect each group in the economy. Use the picture below to answer the question, each word is only used once.

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter34: Globalization And Protectionism
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Problem 2SCQ: Explain how a subsidy on agricultural goods like sugar adversely affects the income of foreign...
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Explain how a US QUOTA on foreign dairy would affect each group in the economy. Use the picture below to answer the question, each word is only used once.

Helps sales because the competition is limited
Hurt by decreased supply which causes higher prices
Benefits from support from US producers, but risks causing
harm to the economy
Hurts sales because the purchases are limited, but may
benefit from higher prices paid for their products
:: US Government
: Foreign Producers
:: Domestic Consumers (US consumers)
:: Domestic Producers
III
Transcribed Image Text:Helps sales because the competition is limited Hurt by decreased supply which causes higher prices Benefits from support from US producers, but risks causing harm to the economy Hurts sales because the purchases are limited, but may benefit from higher prices paid for their products :: US Government : Foreign Producers :: Domestic Consumers (US consumers) :: Domestic Producers III
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