Which term is used for putting restrictions on the amount of imported goods to control supply and prices?

The term that refers to imposing restrictions on the amount of imported goods in order to control supply and prices is "quota." Quotas are specific limits set on the quantity or value of goods that can be imported into a country during a given period. By establishing these limits, governments aim to stabilize domestic markets, protect local industries, and regulate competition from foreign producers.

Implementing a quota restricts the availability of imported goods, which can lead to increased prices for those goods in the domestic market, ultimately influencing consumer choices and supporting domestic manufacturers. Quotas can help in managing trade balances and fostering economic growth within a country by promoting local products over imported ones.

The other terms, while related to trade and import regulations, serve different purposes. A tariff refers to a tax imposed on imports that raises the cost of foreign goods, while a subsidy provides financial support to domestic producers, enabling them to compete more effectively with imports. An embargo, on the other hand, is a ban on trade with specific countries or on specific products for political or economic reasons. Each of these terms plays a unique role in international trade policy, but quotas specifically focus on controlling the volume of imports.