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Review:

Import Quotas

overall review score: 3.5
score is between 0 and 5
Import quotas are limits set by a government on the quantity of a specific product that can be imported into a country during a specified period of time.

Key Features

  • Government-imposed restrictions
  • Limits on quantity of imported goods
  • Control over domestic market

Pros

  • Protect domestic industries
  • Prevent dumping of cheap foreign goods
  • Generate revenue for the government

Cons

  • Increase prices for consumers
  • Limit consumer choice
  • May lead to trade disputes

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Last updated: Tue, Jan 7, 2025, 08:23:35 PM UTC