A Tariff Is ________

question 118

Multiple Choice

A tariff is ________.

• A)a law that a government uses to regulate products that are imported into the country
• B)the maximum amount of a product that can be imported or exported
• C)a prohibition or suspension of foreign trade of specific imports or exports
• D)a duty, or tax, that a government puts on products that are imported into the country

---

Definitions:

Money Paid Out

Expenditures or expenses that a business or an individual incurs.

Break-Even Analysis

A financial calculation to determine the point at which revenue received equals the costs associated with receiving the revenue, indicating no net loss or gain.

Business Plan

A business plan is a formal written document that outlines a company's objectives, strategies, market analysis, financial forecasts, and operational procedures for achieving these goals.

Financial Plan

A detailed strategy outlining how a business will maintain its financial health, including projections for income, expenses, and investment needs.