JAMB - Commerce (2023 - No. 72)
What is a quota?
ban on all imported goods
a physical restriction placed on quantity of goods that can be imported
tax paid on goods produced within a country
tax paid on goods produced outside a country
Uitleg
A quota is a government-imposed trade restriction that limits the number or monetary value of goods that a country can import or export during a particular period. Countries use quotas in international trade to help regulate the volume of trade between them and other countries.