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Understanding Tariffs and Quotas Quiz

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1. What is a primary purpose of tariffs in international trade?

2. What is the main purpose of a quota in international trade?

3. What is the primary economic risk associated with implementing high tariffs and quotas?

4. How might tariffs and quotas affect consumers in the country implementing these policies?

5. How can tariffs encourage domestic production?

6. What is an import quota?

7. What is a tariff?

8. What is the difference between tariffs and quotas?

9. Which of the following can be a cause of a trade deficit?

10. Which of the following might a government use as a reason for implementing tariffs?