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Economics
Quota
A government limit on the quantity of a specific good that can be imported or exported during a period.
Quotas are a form of trade protection. They raise prices for consumers and can lead to shortages or black markets. They are often used instead of tariffs when governments want to strictly control quantities.
It's like putting a cap on how many sweets your friends can bring to the party.
Real world: The EU sets quotas on how much sugar or steel can be imported from certain countries. Once the quota is filled, no more can come in that year, protecting local producers.
💡 Quotas protect local industries but usually make things more expensive for everyone else.