Examlex
If the U.S.government implements a tariff on Chinese tire imports,the price of Chinese-made tires will ________,the quantity demanded will ________,and consumer surplus will ________.
Government Ban
An official prohibition or restriction imposed by a governmental authority on certain activities, products, or substances.
Breach of Contract
An act of failing to fulfill the duties, terms, or conditions stipulated in a contract, which may result in legal action or penalties against the offending party.
Liquidated Damages
refers to a predetermined sum agreed upon by the parties to a contract, to be paid as compensation in case of breach of contract.
Exemption Clause
A contract term that attempts to limit or exclude liability for certain events or damages.
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