Which of the Following Statements Would a Free Trade Advocate

question 157

Multiple Choice

Which of the following statements would a free trade advocate make?

• A) Strict import quotas decrease the variety of choices for consumers.
• B) Higher tariffs encourage more efficient production processes.
• C) Higher tariffs encourage the production of higher-quality goods.
• D) Import quotas lower the prices consumers must pay for goods.

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Definitions:

Product Layouts

The arrangement of machinery, equipment, and workstations in a production facility to optimize the workflow and manufacturing process.

Line Efficiency

Line efficiency refers to the ratio of the actual production output of a manufacturing line to its theoretical maximum capacity, indicating how well the production line is performing against its designed capabilities.

Focused Work Centre

A permanent or semi-permanent product-oriented arrangement of machines and personnel.

Factory Within A Factory

A concept where a segment of a manufacturing facility operates semi-independently, focusing on a specific product or process line, often to increase efficiency or flexibility.