| Import Quota | motunga | 进口配额 (jìnkǒu pèi'é) | 수입 할당제 (suip haldangje) | A physical restriction on the maximum quantity of a foreign product allowed into a country over a specified timeframe. |
| Domestic Supply (S_dom) | no attested term | 国内供给 (guónèi gōngjǐ) | 국내 공급 (guknae gonggeup) | The quantity of a good that local domestic producers are willing and able to sell at various price levels. |
| World Price (Pw) | no attested term | 世界价格 (shìjiè jiàgé) | 세계 가격 (segye gagyeok) | The prevailing market price of a commodity in international trade before local protectionist barriers. |
| Local Equilibrium (No-Trade) Price | no attested term | 本地均衡价格 (běndì jūnhéng jiàgé) | 국내 균형 가격 (gungnae gyunhyeong gagyeok) | The price where domestic demand meets domestic supply with no trade at all ($55 here): the price under an embargo. |
| Quota Price (P_q) | no attested term | 配额后国内价格 | 할당 후 국내 가격 | The elevated domestic market price resulting from restricting foreign supply via an import quota. |
| Non-binding Quota | no attested term | 非约束性配额 (fēi yuēshùxìng pèi'é) | 비구속적 할당 (bigusokjeok haldang) | An import quota at or above the quantity that would be imported under free trade, so it has no effect on price or quantity. |
| Embargo | no attested term | 禁运 (jìnyùn) | 금수 조치 (geumsu jochi) | A complete ban on trade in a good: for imports, a quota of zero. |
| Quota Rent (Importer Profit) | no attested term | 配额租金 (pèi'é zūjīn) | 쿼터 임대료 (kwoteo imdaeryo) | The windfall profit earned by licence-holders who import goods at the cheap world price and resell at the higher quota price (Area C). |
| Deadweight Production Loss | no attested term | 生产无谓损失 (Area B) | 생산 비효율 손실 | The loss of economic efficiency caused by replacing lower-cost foreign imports with higher-cost domestic production (Area B). |
| Deadweight Consumption Loss | no attested term | 消费无谓损失 (Area D) | 소비 위축 손실 | The welfare lost because consumers buy less at the higher price a tariff or quota causes (Area D). |
| Deadweight Welfare Loss | no attested term | 福利无谓损失 (fúlì wúwèi sǔnshī) | 사회후생 손실 (sahoe husaeng sonsil) | The welfare lost to everyone because of the quota, gained by nobody: areas B + D. |
| Consumer Surplus (CS) | no attested term | 消费者剩余 (xiāofèizhě shèngyú) | 소비자 잉여 (sobija ingyeo) | The economic gain to consumers measured by the difference between what they are willing to pay and the market price. |
| Producer Surplus (PS) | no attested term | 生产者剩余 (shēngchǎnzhě shèngyú) | 생산자 잉여 (saengsanja ingyeo) | The economic gain to local producers measured by the difference between the market price and their production cost. |
| Protectionism | pākaihoko | 贸易保护主义 (màoyì bǎohù zhǔyì) | 무역 보호주의 (muyeok bohojuyi) | Government policy aimed at shielding domestic industries from foreign competition through quotas or tariffs. |
