Parents need to set 'limits' for their children. = Parents need to set/place/impose 'limits' on (the behavior of) their children.
I'm trying to be patient with him, but I've just about 'reached my limit'. [=reached the point where I can no longer be patient]
The damage from the fire 'was limited to' the rear of the building. [=only the rear of the building was damaged by the fire]
(..) Fifty share easy. - You think so? - Sure. We could make a series out of it. "Suicide of the Week." Why limit ourselves? "Execution of the Week." "Terrorist of the Week." They'll love it. Suicides. Assassinations. Mad bombers. (..)1976 Network