Final answer:
A quota is a limit on the quantity of a product that can be imported into a country, used to control trade and protect domestic industries.
Step-by-step explanation:
A quota is a mechanism for controlling trade that involves setting a numerical limit on the quantity of products that can be imported into a country. When we discuss imported goods and services, a quota serves as a ceiling on the number of specific goods that can be brought into a country. For example, in the early 1980s, the United States, under the Reagan Administration, imposed an import quota on Japanese automobiles. Similarly, there have been quotas on textile imports under the International Multifiber Agreement. Quotas like these have been used to protect domestic industries from foreign competition and manage the economic impact on certain sectors within a country. The correct answer to the student's question is A. A quota is a limit on how much of a good can be imported.