A Limit on the Quantity of a Good That May

question 102

Multiple Choice

A limit on the quantity of a good that may be imported in a given time period is a:

• A) Trade restriction limit.
• B) Tariff.
• C) Quota.
• D) Price effect.

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Definitions:

Conflict Theory

A theoretical framework in sociology that emphasizes the role of power differentials and social conflicts in contributing to social inequality and change.

Inequality

The condition of being unequal in status, rights, opportunities, or wealth, resulting in disparities among individuals or groups.

Scarce Resources

Limited materials or assets that are available which cannot meet all the demands for them.

Burden of Proof

The obligation to prove one's assertion or claims in a legal dispute or court of law.