Question

Use the table to match each definition to the term. Definition Terms Tariff Quota Dumping A...

Use the table to match each definition to the term.

Definition

Terms

Tariff

Quota

Dumping
A tax on goods imported into a country
A legal limit on the amount of a good that can be imported into a country
Exporting goods whose domestic production has been heavily subsidized by the government
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Answer #1

Tariff is a tax on goods which are either imported/exported. Quota is a specific limit imposed on the import/export of a good to control its supply-demand and other reasons. Dumping refers to exporting goods at a price lower than its normal prevailing price which can be due to local subsidies or lower manufacturing costs.

So, the answers are as follows :

Tariff = A tax on goods imported into a country

Quota = A legal limit on the amount of a good that can be imported into a country

Dumping = Exporting goods whose domestic production has been heavily subsidized by the government

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