The term 'SET LIMITS FOR' can be summarized by the word 'demark, ' which is a six-letter verb meaning to set boundaries or limits. Demarking is often used in the context of setting limits for a particular activity, such as setting limits on how much time can be spent on a task or how much money can be spent on a purchase. It is also used to define the boundaries of a physical space, such as a country's borders or a property line.