The Key Industries Argument for Trade Restrictions Relies on the Notion

question 154

Multiple Choice

The key industries argument for trade restrictions relies on the notion that:

• A) economies of scale are easier to achieve in exporting industries.
• B) products with inelastic supply are the major source for job creation.
• C) some industries deserve protection because they provide positive spillover effects to the rest of the economy.
• D) war may disrupt trade flows.

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Definitions:

Diverse Societies

Societies that include a range of distinct social and cultural groups.

Cultural Data

Information and insights related to the values, beliefs, practices, and social norms of groups of people, which can inform organizational strategies and interactions.

Uncertainty Avoidance

A cultural dimension that describes the extent to which a society tolerates ambiguity and uncertainty.

Achievement Orientation

A focus on setting and meeting high standards of performance.