A __________ Limits the Quantity of Imported Merchandise,thus Minimizing Competition

question 127

Multiple Choice

A __________ limits the quantity of imported merchandise,thus minimizing competition faced by domestic products.

• A) tariff
• B) duty
• C) boycott
• D) dumping tax
• E) quota

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Definitions:

Downward-sloping

Downward-sloping describes a curve or line on a graph that exhibits a decline from left to right, often used to illustrate decreasing prices or quantities in economics.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded by consumers at various prices, typically downward sloping.

Marginal Utility

The shift in happiness or benefit a person receives from using one more unit of a particular product or service.

All-you-can-eat

A service often provided by restaurants where customers can consume as much food as they want for a fixed price.