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Import quota

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › Import quota

  • This topic has 3 replies, 2 voices, and was last updated 2 months ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • March 31, 2022 at 10:48 am #652396
    Safiya.12345
    • Topics: 46
    • Replies: 54
    • ☆☆

    in the context of international trade, which TWO of the following are effects of an import quota?

    1.Both domestic and foreign suppliers receive a higher price for their goods

    2.Domestic producers suppy more goods to the market

    3.The volume of imports increases

    4.Government revenue increases

    Is 2 and 1 correct plz explain

    April 1, 2022 at 4:56 pm #652531
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22557
    • ☆☆☆☆☆

    Look at it from the point of view of 3 and 4

    If there’s an import quota, its improbable that the volume of imports will increase. Surely one of the reasons for establishing an import quota is to … put a quota (ie, a limitation) on the volume of imports

    Why would government revenue increase? I don’t see a connection. In my simple mind, an increase in government revenue is as relevant as a decrease in the annual rainfall following the establishment of import quotas

    OK?

    April 10, 2022 at 6:05 pm #653010
    Safiya.12345
    • Topics: 46
    • Replies: 54
    • ☆☆

    Thank u so much

    April 10, 2022 at 8:23 pm #653026
    MikeLittle
    Keymaster
    • Topics: 26
    • Replies: 22557
    • ☆☆☆☆☆

    Safiya, when I look at this page, it’s to see if there are any outstanding questions that I have not yet answered

    The easiest way is to check that my name is the last one on the thread

    Now, I appreciate the thanks that you regularly give me – it’s nice to be appreciated

    But I’m now in the third of a string of your posts and these first three have all said the same ‘Thank you so much’

    But for my name to appear last in the thread means that I have to respond and that takes up my time unnecessarily

    So, if all you wish to say is ‘Thank you’ please accept that I will assume your sentiment without you needing to actually post it

    Thanks

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    Posts
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