You need to first understand the role of quorum. A quorum means consensu, to reach on that consensus you need votes. The WSFC works in such a way that it always tries to make voting members count to ODD number. In you case you have 2 nodes so 2 voting members which is even so not a good candidate to form proper quorum is a node goes down. Now If you add one FS witness or disk as voting member a odd number voting members will be formed and even when one node is down 2 nodes will be voting making quorum possible. For quorum to be possible the number o voting members anytime should be > 50 %. In your case with 2 nodes and with one node going down it will be less < 50 % so no quorum and WSFC will come down. Please read understanding Cluster Quorum
Does it need 2 Quorums, one for windows as a shared disk, and another for SQL?
SQL Server has no work deciding quorum, its WSFC who is affected by quorum. So you just need 1 quorum at WSFC level to make sure even with nodes going down unexpectedly WSFC is online.