What are quotas?
A) They are restrictions on the domestic production of a good.
B) They are quantitative restrictions on the import of a product.
C) They are a form of aid provided by the domestic government to reduce the cost of production.
D) They restrict the amount of a good that can be sold in the country.

Question

Quizplus · Accepted Answer

Quotas are quantitative restrictions placed on the importation of specific goods into a country. They limit the amount of a product that can be imported, not the production or sale of goods domestically, nor do they involve government aid for production costs.

What Are Quotas