Define Tariffs and How They May Be Calculated

question 62

Essay

Define tariffs and how they may be calculated. Additionally, define a nontariff barrier and list and define three types of nontariff barriers.

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Definitions:

Compound

A chemical entity that is formed by the combination of two or more elements in a specific proportion.

Functional Group

A specific group of atoms within a molecule that is responsible for the characteristic chemical reactions of that molecule.

R-OH

This is a general formula representing alcohols where R represents the alkyl group and -OH represents the hydroxyl functional group.

Alcohol

Any organic compound where the hydroxyl functional group (–OH) is bound to a carbon atom.