International Quota Agreements , Economics, Microeconomics

Define International Quota Agreements,

• International Quota Agreements seek to prevent fall in commodity prices by regulating their supply. Under the quota agreement export quotas are determined & allocated to participating countries according to some mutually agreeable formula and they undertake to restrict the export or production by a certain percentage of the basic quota as decided by the central committee or council. the Coffee Agreement among the major producers of Latin America & Africa limited the amount that could" be exported by each country.
Posted Date: 1/30/2012 11:48:12 PM | Location : United States

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