Quotas are a kind of:Select one:a.Tariff Barrierb.Non-Tariff Barrierc.Equivalent Barrierd.TransBarrier

Break Down the Problem

1. Identify what quotas are in the context of trade and economics.
2. Understand the categories of barriers to trade.

Relevant Concepts

1. Quotas: These are limits set by governments on the quantity or value of certain goods that can be imported or exported during a specific time period.
2. Types of Trade Barriers:
   • Tariff Barrier: Taxes imposed on imported goods.
   • Non-Tariff Barrier: Restrictions other than tariffs, including quotas.
   • Equivalent Barrier: Any method that indirectly restricts trade.
   • TransBarrier: This term is not commonly used in economic contexts.

Analysis and Detail

• Quotas fall into the category of Non-Tariff Barriers because they regulate the volume of trade without involving taxes directly. By limiting the quantity of goods, quotas can protect domestic industries from foreign competition.

Verify and Summarize

• Given the definitions and characteristics of the various barriers, it's clear that quotas are best categorized as non-tariff barriers rather than tariffs or other forms.

Final Answer

b. Non-Tariff Barrier