QUESTION IMAGE
Question
if saudi arabia’s government puts a limit on how much israeli dead sea salt it will import this year, what trade barrier is this?
tariff
quota
opportunity cost
embargo
A quota is a trade barrier that limits the quantity of a good that can be imported. In this case, Saudi Arabia is limiting the amount of Israeli Dead Sea salt it imports, which fits the definition of a quota. A tariff is a tax on imports. Opportunity cost is an economic concept related to the value of the next - best alternative forgone. An embargo is a complete ban on trade with a particular country or for a particular good (more extreme than a quota).
Snap & solve any problem in the app
Get step-by-step solutions on Sovi AI
Photo-based solutions with guided steps
Explore more problems and detailed explanations
B. quota