A Quota Is a Limit on How Much of a Product

question 68

True/False

A quota is a limit on how much of a product can be imported.

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Definitions:

Sector

A distinct subset of a market, economy, or field of operation, often categorized by similar characteristics or types of economic activity.

Services

Intangible activities or benefits that are typically provided to satisfy the needs or wants of consumers or businesses.

Goods

Tangible products or items that satisfy human wants or needs and can be transferred from one person to another.

Product Market

The platform where end products or services are made available to individuals, companies, and the general public.