What is the meaning of quantitative restrictions?

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Quantitative restrictions refer to limits imposed by governments on the amount or volume of goods that can be imported or exported during a specific time period. These restrictions can take various forms, such as quotas, embargoes, or other regulatory measures, and are typically used to control trade balances, protect domestic industries, or respond to political and economic situations.

For example:

  1. Import Quotas: Controls the amount of a specific product that can be imported into a country.

  2. Export Quotas: Limits the amount of a particular product that can be exported to other countries.

  3. Embargoes: Bans on trade with specific countries due to political reasons.

These measures can directly affect the supply and demand of goods, influencing prices and availability in the domestic and international markets.

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