Study Notes
Import Quotas
- Level:
- AS, A-Level, IB
- Board:
- AQA, Edexcel, OCR, IB, Eduqas, WJEC
Last updated 2 Nov 2017
An import quota is a limit on the total quantity of a product can be supplied to a market.
- An import quota therefore restricts the supply of an imported product
- By cutting market supply, the price of the imported product is likely to rise
- Black markets may develop
Summary of the key effects of an import quota
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