Quotas which are the quantitative restrictions on exports/imports intended at protecting local industries and conserving foreign exchange, include which of the following
A. Single stage quota
B. Absolute quota
C. Tariff quotas
D. Value added quotas
E. Voluntary quotas
Choose the correct answer from the options given below:

Correct option is A

Quotas are measures used by governments to control the quantity of goods that can be imported or exported during a specific period. These include:
Absolute Quota (B): An absolute quota is a specific type of quota system that sets a fixed limit on the number or percentage of a certain group of people who can be admitted, employed, or granted a certain privilege or opportunity.
Tariff Quotas (C): Tariff quotas are a trade policy tool that allows a specified quantity of a particular product to be imported at a lower tariff rate, while any imports above that quantity are subject to a higher tariff rate.
Voluntary Quotas (E): Voluntary quotas, also known as voluntary export restraints (VERs), are agreements between two countries in which the exporting country agrees to limit its exports of a certain product to the importing country.
Information Booster
1. Purpose of Quotas:
· Protect local industries from foreign competition.
· Conserve foreign exchange reserves.
· Control the balance of trade and manage market saturation.
2. Quotas vs. Tariffs:
· Quotas directly limit quantities, while tariffs regulate trade indirectly by making it more expensive.