Quotas are applied on top of the service limits and inherited through the nested compartment hierarchy. Quotas allow compartment admins to limit resource consumption and set boundaries around acceptable resource use. The term “quota” can be interpreted as the following: * An individual statement written in the declarative language. * A collection of statements in a single, named “quota” object (which has an Oracle Cloud ID (OCID) assigned to it). * The overall body of quotas your organization uses to control access to resources.