drag the tiles to the correct boxes to complete the pairs. match each scenario with the economic concept it…

drag the tiles to the correct boxes to complete the pairs. match each scenario with the economic concept it describes. dumping tariff quota to protect its plastic industry from foreign competition, country a raises taxes on plastic imports. country a decides that it will allow only 500,000 tons of rice to be imported per year so demand for local produce doesnt fall too much. because of subsidization and improving technologies, country a is able to grow large quantities of corn. it exports corn to country b at prices below normal value.

drag the tiles to the correct boxes to complete the pairs. match each scenario with the economic concept it describes. dumping tariff quota to protect its plastic industry from foreign competition, country a raises taxes on plastic imports. country a decides that it will allow only 500,000 tons of rice to be imported per year so demand for local produce doesnt fall too much. because of subsidization and improving technologies, country a is able to grow large quantities of corn. it exports corn to country b at prices below normal value.

Answer

Brief Explanations:

  1. Raising taxes on imports is a tariff. A tariff is a tax imposed on imported goods to protect domestic - industries.
  2. Limiting the quantity of rice imports to 500,000 tons per year is a quota. A quota is a limit on the quantity of a good that can be imported or exported.
  3. Exporting corn at prices below normal value due to subsidization and improved technologies is dumping. Dumping is the practice of selling goods in a foreign market at a price lower than the home - market price or the cost of production.

Answer:

  1. To protect its plastic industry from foreign competition, country A raises taxes on plastic imports. → tariff
  2. Country A decides that it will allow only 500,000 tons of rice to be imported per year so demand for local produce doesn't fall too much. → quota
  3. Because of subsidization and improving technologies, country A is able to grow large quantities of corn. It exports corn to country B at prices below normal value. → dumping