meaning of absolute quota

absolute quota meaning in Law Dictionary

particular quantity of stock permitted into a country. This limits the amount of foreign products permitted in a country at anybody time. Moreover it labeled as a tariff rate quota.

absolute quota meaning in Business Dictionary

Import quota that enables a restricted number of specified merchandise into a country (or withdrawal of already imported merchandise from a bonded warehouse) for consumption - at regular duty rates - during a specified period. See also tariff rate quota.