Which of the following best describes an embargo?

Study for the FBLA Intro to Business Concepts Test. Boost your knowledge with flashcards and multiple choice questions, each question provides hints and explanations. Ace your exam preparation!

An embargo is best described as a complete ban on trade with a specific country or the exchange of certain goods. This measure is typically implemented by governments for various reasons, such as political disagreements, violations of international norms, or national security concerns. By imposing an embargo, a government aims to apply pressure on the targeted nation, with the hope of altering its behavior or policies.

The other options define different trade-related concepts. A restriction on tariffs refers to measures put in place to control the duties imposed on imports and exports, while a tax on imported goods is a financial charge levied on products brought into a country. Limiting the quantity of goods pertains to quotas, which specify a maximum amount of a product that can be traded. None of these accurately captures the essence of an embargo, which is characterized by its total prohibitive nature regarding trade.

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