Someone Buys a Home in a Development

question 28

Multiple Choice

Someone buys a home in a development. They may fall under the jurisdiction of a

• A) home owner's association.
• B) new home covenant.
• C) property management collective.
• D) neighborhood corporation.

---

Definitions:

Infant Industry

A new industry that is in its early stages of development and may be protected or supported by government policies.

Protection

Economic policies and actions, such as tariffs and quotas, taken by a government to shield domestic industries from foreign competition.

Compete

The act of striving against others for the purpose of achieving goals such as winning a market share, receiving recognition, or obtaining a scarce resource.

Tariff

A tax imposed by a government on goods and services imported from other countries, intended to raise revenue or protect domestic industries.