An import quota is a a) tax on import quantities above the legal limit. b) way to increase tariff revenues for the exporting country. c) legal limit on the amount of a good that can be imported into a country. d) legal incentive for members of wto to increase their exports of a good or service.

C) legal limit on the amount of a good that can be imported into a country.

As a trade restriction, an import quota establishes a physical limit of the quantities (or the value) of a product or good that can be imported from foreign countries in a given period of time.

Some of its purposes are to protect domestic industries by restricting foreign competition, to direct the foreign exchange resources of the country for more high-priority import items, to reduce the balance of payments deficit faced by the country that exports the product, among others.

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john smith was the first englishman to sail around the world. francis bacon served as attorney general and lord chancellor of england. he took up aristotelian ideas, arguing for an empirical, inductive approach, known as the scientific method, which is the foundation of modern scientific inquiry.