Asked by
Simone Portnoy
on Oct 26, 2024
Verified
A limit on the amount of a foreign currency people are allowed to buy is an example of a quota.
Foreign Currency
Currency used in a country other than one's own, involved in international trade, investments, and travel.
Quota
A government-imposed trade restriction that limits the quantity or monetary value of goods that can be imported or exported during a specific time.
- Examine the effects that government mandates on quantity control have on market operations and surplus outcomes.
Verified Answer
ES
Learning Objectives
- Examine the effects that government mandates on quantity control have on market operations and surplus outcomes.