A(n) ________ Refers to Permission That an Administrative Agency Grants

question 40

Multiple Choice

A(n) ________ refers to permission that an administrative agency grants to persons or businesses to conduct certain types of commerce or professions.

• A) easement
• B) license
• C) letter of credit
• D) arraignment

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Definitions:

Excise Tax

A tax applied to specific goods, services, or activities, either as a flat amount per unit or as a percentage of the price, used to raise revenue or discourage consumption.

Output

The total amount of goods or services produced by a business, industry, or economy within a specific period.

Producers

Entities or individuals that create goods or services for sale or exchange in a market.

Market Situations

Relates to the various conditions or scenarios under which markets operate, influenced by factors like competition, demand, and supply.