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vova2212 [387]
3 years ago
10

When nigeria faces limits on oil that it can produce this limit is known as

Social Studies
1 answer:
Sophie [7]3 years ago
5 0

Answer:

Production Quota.

Explanation:

Production Quota can be defined as restrictions imposed by the government on the production of goods. Quotas are imposed on the goods by the government to standardize the trade for benefits. Governments impose quotas on imports so that the domestic production may grow.

<u>In this type of quota, the government sets a limit to the production of any goods. The government can either maximize this limit to increase production or can minimize the production for other benefits</u>.

<u>The face limits faced by Nigeria on the production of oil will be termed as production quota, as, the limit has been set on the production of the oil</u>.

So, the correct answer is the production quota.

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