A Limit on the Quantity of a Good That May

question 148

Multiple Choice

A limit on the quantity of a good that may be imported in a given time period is called:

• A) an embargo.
• B) a tariff.
• C) a quota.
• D) dumping.

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Definitions:

Budget Constraint

Represents the combination of goods and services that a consumer can purchase given current prices and their income.

CDs

Compact Discs, a digital optical disc data storage format used for storing digital data.

Budget Constraint

The limitation on the consumption patterns of individuals or entities based on their income and the prices of goods and services.

Points Along

Specific locations identified on a graph or line that represent data points or positions related to a particular value.