The difference between tariff and quota

Question

Question

Answer 1

Answer #1

1.If we talk about tariff ,it is simply the tax that is put on any import export of goods and services .

but if talk about the quota, it is the restriction on the quantity of goods that to be imported .

2 The income is gone to the government account by tariff

in quota ,the income goes to the importers.

3.in tariff , there is revenue generation for the country and hence ultimately contribute to the GDP as well.

but if it is quota ,it is due to the normal quantity of the goods so it is not affect the GDP

Answer 2

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