A Tariff Differs from a Quota in That a Tariff

question 39

Multiple Choice

A tariff differs from a quota in that a tariff is:

• A) a tax imposed on imports, whereas a quota is an absolute limit to the number of units of a good that can be imported.
• B) a tax levied on exports, whereas a quota is a limit on the number of units of a good that can be exported.
• C) levied on exports, whereas a quota is imposed on imports.
• D) levied on imports, whereas a quota is imposed on exports.

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Definitions:

Merchant Wholesaler

An intermediary entity that buys goods in bulk from manufacturers to resell them to retailers or other buyers, typically without modifying the goods.

Utilities Offered

Basic services provided to consumers and businesses, such as water, electricity, gas, and telecommunications.

Retailers

Retailers are businesses that sell goods or services directly to consumers, acting as the final link in the supply chain from manufacturers to consumers.

Value of Retailing

The perceived benefit that shoppers get from the retail experience, including product selection, quality, convenience, and customer service.