A Quota Is

question 204

Multiple Choice

A quota is

• A) a government-imposed restriction on the quantity of a specific good that can be imported into a country.
• B) a tariff imposed on goods that are dumped into the home country.
• C) a tariff imposed on goods that are subsidized by their domestic governments and exported to other countries.
• D) a tariff based on the value of the imported good.

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Definitions:

Operations Management

Management's area of responsibility that involves planning and controlling the procedures of production and reengineering business activities in the making of goods or services.

Operations Management

The administration of business practices to create the highest level of efficiency possible within an organization, focusing on converting materials and labor into goods and services as effectively as possible.

Service Sector

A segment of the economy that involves providing services, as opposed to producing goods, including sectors like retail, healthcare, and education.

Manufacturing Sector

The sector of the economy that is engaged in the production of goods through the processing of raw materials and components into finished products.