Quantitative Restrictions

What is it? Explicit limits, or quotas, on the physical amounts of particular commodities that can be imported or exported during a specified time period, usually measured by volume but sometimes by value. The quota may be applied on a selective basis, with varying limits set according to the country of origin or destination, or on a quantitative global basis that only specifies the total limit and thus tends to benefit more efficient suppliers.

Added By: Zoe

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