Several students mixed up the meaning of quota and quote this week. It is easy to see why as the spelling is almost the same. Here’s some clarification.
A quota is a limit or a fixed number of people or things, or a fixed requirement. Here are a couple of examples.
A government may put an annual quota of foreign 250,000 cars that can be imported into the country. This means that no more than 250,000 cars can be imported each year.
You company might have a sales quota of $1000 per salesperson per week. This means that each salesperson is required to achieve at least $1000 in sales.
A quote means either to repeat or copy what someone says or write, or to give someone a price. Here are some examples.
When trying to prove an argument, people often quote the words of famous thinkers or politicians.
When a firm wants to buy new equipment, it will as several suppliers to give a quote. This means that the firm wants to suppliers to tell them the price of the equipment.