Which of the Following Is an Argument for Tariffs That

question 137

Multiple Choice

Which of the following is an argument for tariffs that protect domestic businesses and workers?

• A) the protection of industries and technology vital to defence preparedness
• B) the maintenance of improved quality of products to protect consumers
• C) the quota system argument
• D) the protection of large, established businesses

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Definitions:

Purely Competitive

This describes a market structure where many firms sell identical products, and no single seller can influence the market price.

Purely Competitive

A purely competitive market is characterized by numerous sellers and buyers engaging in the exchange of homogenous goods or services, with no single entity able to influence market prices.

Market Price

The current market rate at which services or goods are offered for sale or purchase.

Cost Data

Information related to the expenses involved in producing a good or providing a service, used for pricing, budgeting, and financial analysis.