If the Target Country of an Embargo Has a Very

question 58

True/False

If the target country of an embargo has a very inelastic demand for imports, the embargo is more likely to be successful in an economic sense.

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Definitions:

Accumulated Depreciation

The total depreciation amount that has been charged against a fixed asset's cost over its useful life to reflect wear and tear.

Equipment

Tangible property owned by a business used in operations, such as machinery, vehicles, or computers.

Balance

The difference between the total debits and credits in an account, or the equilibrium between two opposing forces or aspects.

Revaluation Surplus

This is the increase in value of an asset after it has been appraised again and is recorded as a gain in equity under a company's financials.