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Import quota

An import quota is a type of trade restriction that sets a physical limit on the quantity of a good that can be imported into a country in a given period of time.[1]

Quotas, like other trade restrictions, are typically used to benefit the producers of a good in that economy.

See also

References

  1. ^ O'Sullivan, Arthur; Sheffrin, Steven M. (2003). Economics: Principles in Action. Pearson Prentice Hall. p. 449. ISBN 0-13-063085-3.