Practicing Success
Practicing Success
CUET Preparation Today
| What do you understand by the term "Quotas" in inward looking trade strategy? |
Quantity of goods which can be stored in the warehouse Quantity of goods which can be sold in the domestic market Quantity of goods which can be imported None of the above |
| Quantity of goods which can be imported |
| Inward looking trade strategy protected the domestic industries from foreign competition. Protection from import at that time took two forms: Tariffs and Quotas. Quotas referred to the quantity of goods which could be imported. |
