Meaning of “quota system” in the English Dictionary

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"quota system" in Business English

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quota systemnoun [ C ]

uk us COMMERCE

a method of setting a limit on how much of something a country or company is allowed to have, produce, import, etc.:

The proposed change in the quota system would add millions of barrels of oil to the world market.
The end of the quota system will allow countries to sell as much clothing as they want around the world.

(Definition of “quota system” from the Cambridge Business English Dictionary © Cambridge University Press)