To protect the interest of domestic business houses and customers is the agenda of the Government of any country. Government designs the policies in favor of domestic traders, customers as well as foreign traders. Government restricts the companies to export and import the goods beyond a specific limit by imposing quota system. Comment on the impact of quota system on international trade to safeguard the local customers as well as business houses.
To protect the interest of domestic business houses and customers is the agenda of the Government of any country. Government designs the policies in favor of domestic traders, customers as well as foreign traders. Government restricts the companies to export and import the goods beyond a specific limit by imposing quota system. Comment on the impact of quota system on international trade to safeguard the local customers as well as business houses.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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To protect the interest of domestic business houses and customers is the agenda of the Government of any country. Government designs the policies in favor of domestic traders, customers as well as foreign traders. Government restricts the companies to export and import the goods beyond a specific limit by imposing quota system. Comment on the impact of quota system on international trade to safeguard the local customers as well as business houses.
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