Quota (redirected from diocesan quotas)

Quota

See Import Quota

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quota

A maximum or minimum limit on quantity. Applied to imports, a quota designates the maximum quantity of a product that may be brought into a country during a specified period of time. Quotas can have significant impact on certain industries and companies. The establishment of a quota or a change in an existing quota can influence the price of the affected firm's securities. See also tariff, trigger price.

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Quota

A protectionist regulation setting a maximum number of imports for a certain good over a given period of time, usually a year. For example, if a country wants to encourage domestic production of automobiles, it might set a limit on how many foreign cars may be brought into the country each year. While quotas were once a relatively common form of protectionism, the 1995 renegotiation of the General Agreement on Tariffs and Trade placed tougher international restrictions on them. Critics allege that quotas, in addition to depriving the state of tariff revenue, lead to corruption (in the form of bribing customs agents) and smuggling. Many economists therefore believe that quotas are less efficient than tariffs.