Question

difference between import duty and import quota​

Answer 1

Explanation:

A tariff is a tax on imports. It is normally imposed by the government on the imports of a particular commodity. On the other hand, quota is a quantity limit. It restricts imports of commodities physically.

Tariffs are taxes on imported goods, quotas are limit on quantity of goods that can be imported.

Answer 2

Answer: A tariff is a tax on imports. It is normally imposed by the government on the imports of a particular commodity. On the other hand, quota is a quantity limit. It restricts imports of commodities physically.

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