Examlex
Explain the differences between a variable, fixed, and a mixed cost.
Fishing Costs
The expenses incurred in the process of catching fish, including equipment, fuel, and labor.
Individual Transferable Quota
An Individual Transferable Quota is a quota, assigned to individuals or companies, that grants the right to catch a certain amount of fish or harvest other renewable resources, which can be traded or leased.
Tradable Fishing Limit
A regulatory method, similar to ITQs, allowing holders to buy, sell, or lease fishing quotas, aiming at sustainable fishery management by limiting the total catch.
Total Allowable Catch (TAC)
A fishery management tool that sets a limit on the amount of a particular fish species that can be caught over a specified time period.
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