Question

What is unilateral quota ?

Answer 1

Answer:

Under the system of unilateral quota, a country places an absolute limit upon the quantity of a commodity to be imported during a specified period. This limit is fixed without any prior negotiation or agreement with the foreign countries.

Answer 2

Answer:

Unilateral Quota: Under the system of unilateral quota, a country places an absolute limit upon the quantity of a commodity to be imported during a specified period. This limit is fixed without any prior negotiation or agreement with the foreign countries.