Duties and Customs, Taxes, and Licensing Are Examples Of

question 16

Multiple Choice

Duties and customs, taxes, and licensing are examples of:

• A)intellectual trade property rights.
• B)tariff trade barriers.
• C)non-tariff trade barriers.
• D)General Agreement in Trades and Services.
• E)balance of payments.

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Definitions:

Capital

The collection of physical and financial assets used by an individual or organization to produce goods and services.

Services

Services like accounting, banking, cleaning, consulting, education, insurance, professional knowledge, medical care, and transportation that cannot be physically touched.

Goodwill

An intangible asset on a company's balance sheet that represents the premium paid over the fair market value of the acquired assets in a business acquisition.

Tangible Capital

Physical assets that are used in the operating activities of a business, such as buildings, machinery, and equipment.