Examlex
Which of the following is not a cost of production?
Tariffs
Taxes imposed by a government on imported goods, typically used to protect domestic industries from foreign competition.
Quotas
Restrictions set by governments on the quantity or value of goods that can be imported or exported, used to control trade balances and protect domestic industries.
Infant Industry
A new industry that is in its early stages of development and may be protected or supported by government policies.
Protection
Economic policies and actions, such as tariffs and quotas, taken by a government to shield domestic industries from foreign competition.
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