Intro to International Relations
Quotas are trade restrictions that set a physical limit on the quantity of a particular good that can be imported or exported during a specific time period. They are used by countries to protect domestic industries from foreign competition, manage supply and demand, and control the balance of trade. Quotas can affect pricing, market availability, and the overall economic landscape by influencing how goods flow between countries.
congrats on reading the definition of Quotas. now let's actually learn it.