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Quotas are regulatory limits set on the quantity of a specific good or service that can be produced, imported, or exported. They are often used to protect domestic industries, manage resource use, or control market supply. Quotas can be specific (a fixed amount) or tariff-rate (allowing a certain quantity at a lower tariff rate before higher tariffs apply). Additionally, they can influence pricing, availability, and competition within the market.

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AnswerBot

1w ago

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