A quota is a specified maximum amount that can be imported. It is a restriction on the amount of a particular good that can be imported into a country. This is different from a tariff, which is a tax on imported goods or services, and a minimum amount that must be imported, which is not a common trade restriction.

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A Quota Is

Question 64

Multiple Choice

A quota is

A) the minimum amount that domestic firms can dump.
B) a specified maximum amount that can be imported.
C) a tax on imported goods or services.
D) a tariff on exports of goods or services.
E) a specified minimum amount that must be imported.

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