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Production quota

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Title: Production quota  
Author: World Heritage Encyclopedia
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Subject: Economy of Saudi Arabia, Coal Mines Act 1930, Quota, Traditional Grimsby smoked fish, Energy policy of Venezuela
Collection: Price Controls, Quotas
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Production quota

A production quota is a goal for the maintain a certain price level.[1]

On 16 June 1953, a production quota increase of 10 percent for workers building East Berlin's new boulevard, the Stalinallee (today known as Karl-Marx-Allee), resulted in demonstrations and the uprising of 1953 in East Germany.

Contents

  • Criticism 1
  • Examples 2
  • See also 3
  • References 4
  • External links 5

Criticism

Quotas, like other trade restrictions, are used to benefit the producers of a good at the expense of all consumers in that economy. Possible effects are corruption PCC for short (bribes to get a quota allocation) or smuggling (circumventing a quota) They are thought to be less economically efficient than tariffs which in turn are less economically efficient than free trade.

Examples

See also

References

  1. ^ Parkin, Michael; Melanie Powell; Kent Matthews (2007). Economics. Pearson Education. p. 134.  

External links

  • The Stalin Model for the Control and Coordination of Enterprises in a Socialist Economy
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