Import Quota
(noun)
A restriction on the import of something to a specific quantity.
Examples of Import Quota in the following topics:
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Quotas
- There are two main types of import quota: the absolute quota and the tariff-rate quota.
- Once the quota has been fulfilled, no other goods may be imported into the country.
- Once the initial quota is surpassed, imports are not stopped; instead, more of the good may be imported, but at a higher tariff rate .
- By restricting imports, quotas minimize the impact of such activities.
- Import quotas may promote administrative corruption, especially in countries where import quotas are given to selected importers.
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Importing
- The buyer of such goods and services is referred to as an "importer" and is based in the country of import whereas the overseas-based seller is referred to as an "exporter".
- An import in the receiving country is an export to the sending country.
- Imports, along with exports, form the basics of international trade.
- Import of goods normally requires the involvement of customs authorities in both the country of import and the country of export; those goods are often subject to import quotas, tariffs, and trade agreements.
- While imports are the set of goods and services imported, "imports" also means the economic value of all goods and services that are imported.
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Promoting Free Trade
- Government can promote free trade by reducing tariffs, quotas, and non-tariff barriers.
- Free trade is a policy by which a government does not discriminate against imports or interfere with exports by applying tariffs (to imports), subsidies (to exports), or quotas.
- There are a number of barriers to free trade that governments can mitigate, most importantly, tariffs (government imposed import taxes) and quotas (government imposed limits on the quantity of a good that can be imported).
- In addition to tariffs and quotas, there are a number of other barriers to free trade that countries use.
- NTBs act just like tariffs and quotas in that they are barriers to free trade.
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Evaluating Policies
- International Trading Environment: Global agricultural trade is a complex issue, with quality control, pricing (dumping), and import/export tariffs.
- Resource Access: Ensuring access to land and biodiversity is another important component to a successful agricultural industry.
- Protection of environmental land and the overall ecosystem is an important policy consideration.
- Import Quotas: Policy makers often implement quotas in agriculture to retain more control over prices and protect domestic incumbents.
- Quotas, like other forms of trade protection, benefit the local industry.
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Economics
- Trade barriers, such as taxes on food imports or subsidies for farmers in developed economies, lead to overproduction and dumping on world markets, thus lowering prices and hurting poor-country farmers.
- In general, for a given level of protection, quota-like restrictions carry a greater potential for reducing welfare than do tariffs.
- Tariffs, quotas, and non-tariff barriers lead too few of the economy's resources being used to produce tradeable goods.
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Costs of Trade
- Free trade is a policy where governments do not discriminate against imports and exports; creates a large net gain for society.
- Free trade is a policy where governments do not discriminate against exports and imports.
- Free trade is beneficial to society because it eliminates import and export tariffs.
- Free trade policies consist of eliminating export tariffs, import quotas, and export quotas; all of which cause more losses than benefits for a country.
- With free trade in place, the producers of the exported good in exporting countries and the consumers in importing countries all benefit.
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Imports: The Economics Impacts of Buying Goods from Other Countries
- The domestic purchaser of the good or service is called an importer.
- Due to the economic importance of imports, countries enact specific laws, barriers, and policies in order to regulate international trade.
- Protectionism is the economic policy of restraining trade between countries through tariffs on imported goods, restrictive quotas, and government regulations.
- Instead of importing Chinese labor, the U.S. imports goods that were produced in China by Chinese labor.
- The map shows the largest importers on an international scale.
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Creating Sales Force Structure, Territories, and Goals
- The answer to that question, an important one, depends on the company's strategy.
- A third metric that is just as important as the other two is to compare territories.
- Sales goals are commonly stated in terms of quotas.
- A sales quota is the minimum sales goal for a set time span.
- When setting quotas, successful sales managers tend to:
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The Year the Polls Elected Dewey
- In the 1948 presidential election, the use of quota sampling led the polls to inaccurately predict that Dewey would defeat Truman.
- The Roper Poll had suspended its presidential polling at the end of September, barring "some development of outstanding importance," which, in their subsequent view, never occurred.
- The Crossley, Gallup, and Roper organizations all used quota sampling.
- In addition, quota sampling involves a human element.
- Quota sampling had to go.
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Toward Immigration Restriction
- Nativists campaigned for immigration restrictions from 1890-1920, proposing measures such as literacy tests and quotas.
- In his response to Congress, Cleveland stated, “The best reason that could be given for this radical restriction of immigration is the necessity of protecting our population against degeneration and saving our national peace and quiet from imported turbulence and disorder.
- The widespread acceptance of racist ideology and labor concerns led to a reduction in Southern and Eastern European immigrants being codified in the National Origins Formula of the Emergency Quota Act of 1921, which capped new immigrants at 3% of the number of people in that same ethnic group already in the United States.
- This was a temporary measure and was followed by a further lowering of the immigrant quota to 2% in the Immigration Act of 1924, which also reduced the number of immigrants to 164,687.
- It contributed to the anti-immigration movement and consequently, immigration quota legislation in the 1920s.