WAEC Economics 2020 Objective — Question 44
Question 44 of 50 from the West African Examinations Council (WAEC) Economics 2020 Objective paper, with the correct answer and a full explanation.
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A country is allowed to import just 50,000 tonnes of rice annually. This describes
- A. devaluation
- B. tariff
- C. embargo
- D. quotaCorrect
Explanation
A quota is a government-imposed limit on the quantity of a good that can be imported (or exported) within a given period, as described here.
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