Strategic Alliances and Partnerships
Import quotas are government-imposed limits on the quantity of a specific good that can be imported into a country during a given time period. These restrictions are used to protect domestic industries from foreign competition, regulate trade balances, and influence prices of goods in the local market. By controlling the volume of imports, governments aim to promote local production and safeguard jobs within their economy.
congrats on reading the definition of import quotas. now let's actually learn it.