Which of the following best describes an export quota?

An export quota specifically refers to a limit set by a government on the quantity of a particular good that can be exported out of the country over a given period. The purpose of imposing an export quota can vary; governments may do this to manage scarce resources, control domestic prices, ensure availability for domestic consumers, or comply with international agreements.

When a country imposes an export quota, exporters are restricted in how much of a product they can sell overseas, which can create a scarcity in foreign markets and potentially increase the prices of those goods domestically. This measure can help protect local industries or ease domestic market pressures.

In contrast, restrictions on imports pertain to the opposite scenario, where limits are set on how much can enter the country. Taxes or tariffs on exports and subsidies for domestic production also serve different economic functions unrelated to the concept of setting limits on exports.