In economic markets,a quota is a(n):
A)lower limit on quantity.
B)upper limit on quantity.
C)maximum price.
D)minimum price.

Question

Quizplus · Accepted Answer

Quota refers to a limit on the quantity of a certain product or service that can be produced or consumed. It sets an upper limit on the amount of a good that can be imported or exported or the amount that can be produced. Therefore, option B is the correct answer.

In Economic Markets,a Quota Is A(n)