What is meant by 'Quota'?

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Gaurav Seth 5 years, 5 months ago
1. By quota, imports of
goods is restricted after a
certain quantity.
2. The quantity of imported goods is determined by the Government under quota.
3. Import quotas are
comparatively more protective
4. Under quotas, the government's revenues increase indirectly.
5. Quotas affect both the efficient and inefficient foreign producers adversely.
6. Under quotas, domestic inefficient, producers are sought to protect by abolishing the competition.
3Thank You