WORLD HISTORY

Detailed explanation-1: -Import quotas are government-imposed limits on the quantity of a certain good that can be imported into a country. Generally speaking, such quotas are put in place to protect domestic industries and vulnerable producers.

Detailed explanation-2: -A quota is a government-imposed trade restriction that limits the number or monetary value of goods that a country can import or export during a particular period. Countries use quotas in international trade to help regulate the volume of trade between them and other countries.

Detailed explanation-3: -May include the imposition of tariffs or import quotas, restrictions on the amount of foreign currency available to cover imports, a requirement for import deposits, the imposition of import surcharges, or the prohibition of various categories of imports. See also non-tariff barriers.

Detailed explanation-4: -A quota is a type of trade restriction where a government imposes a limit on the number or the value of a product that another country can import. For example, a government may place a quota limiting a neighboring nation to importing no more than 10 tons of grain.

Detailed explanation-5: -Two Main Types of Import Quotas An absolute quota sets the amount of a good that can be imported in a period. Once that amount is reached, no more can be imported until the next period. A tariff-rate quota combines the concept of a tariff into the quota.