The Opportunity to Exploit Economies of Scale Is One of the Gains

question 7

Multiple Choice

The opportunity to exploit economies of scale is one of the gains to be derived by removing tariffs and other trade distortions. These gains will be the result of a decrease in

• A) world prices of imports.
• B) the consumption distortion loss triangle.
• C) the production distortion loss triangle.
• D) international labor mobility.
• E) excessive entry and inefficient business practices.

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Definitions:

Promotion

The advancement of an employee to a higher job position or rank within the organization, often accompanied by increased responsibilities and salary.

Norm of Reciprocity

A social rule suggesting that people should repay, in kind, what another person has provided for them; this is the basis for the exchange of goods, services, and acts of kindness.

Perceived Support

The extent to which individuals believe that their social network provides love, care, esteem, and assistance.

Organization Achieve

The successful accomplishment of goals and objectives by a group or an entity, often through effective planning, leadership, and management.