Import Substitution Emphasizes Decreasing Reliance on International Trade by

question 59

Multiple Choice

Import substitution emphasizes decreasing reliance on international trade by

• A) developing import-competing industries.
• B) adopting free-trade policies.
• C) subsidizing efficient exporting industries.
• D) reducing import tariffs on labor-intensive goods.

Understand the various components and frameworks involved in creating and implementing an ethical program within an organization.

Recognize the distinct roles and responsibilities of different personnel in enforcing ethics standards, including the ethics officer's duties.

Differentiate between compliance and values orientations in ethics programs and their impact on organizational culture.

Explain the function and importance of a code of ethics versus a code of conduct in an ethical program.

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Definitions:

Homogeneous Product

A product that is uniform and consistent in quality and characteristics, making it indistinguishable from products produced by other manufacturers.

Weighted-Average Method

A cost accounting method that calculates the cost per unit of inventory based on the average cost of all similar items in the inventory.

Conversion Costs

The cumulative costs of direct labor and manufacturing overhead that are incurred to convert raw materials into finished goods.

Assembly Department

A division within a manufacturing facility where parts are put together to form finished products.