A Numerical Limit Imposed by a Government on the Quantity

question 56

Multiple Choice

A numerical limit imposed by a government on the quantity of a good that can be imported into the country is called a

• A)tariff.
• B)quota.
• C)quantity floor.
• D)barricade.

---

Definitions:

Relationships

Connections or interactions between individuals or organizations that influence business operations and outcomes.

Production Economies

Advantages that result from efficiency improvements in the production process, often achieved through increased scale, technology advancements, or optimized resource allocation.

Demand Aggregation

A strategy that combines product or service demands from different sources to get better prices or terms from suppliers.

Offshoring

The practice of relocating business processes or production to another country to reduce costs or take advantage of favorable conditions.