You are implementing several APIs in Azure API Management with these requirements: all APIs require a subscription key, subscribers must accept terms of use, administrators must approve or reject subscription requests, and you must limit multiple simultaneous subscriptions. What should you implement?

Creating and publishing a product in Azure API Management is the correct solution because products are how you define API access for consumers. Products allow you to group APIs, require subscription keys, enforce terms of use, and manage subscription approval workflows. This directly addresses all the stated requirements. Header-based and query string-based versioning are methods for managing API evolution, not for controlling subscription access or terms of use. Adding new revisions is for managing changes to an API over time without breaking existing applications, which is unrelated to the subscription requirements.