Which of the Following Reasons Explains Why Many Countries with Relatively

question 101

Multiple Choice

Which of the following reasons explains why many countries with relatively small populations import automobiles from Japan,U.S. ,and Germany rather than produce them domestically?

• A)Differences in resource endowments
• B)Economies of scale
• C)Differences in tastes
• D)Import quota
• E)Import tariffs

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Definitions:

Normal Time

The average time taken by a worker to complete a task under normal working conditions.

Standard Time

The established duration designed for the completion of a specific task, under normal working conditions and performance.

Time Study

A work measurement technique for recording the times of performing a task to establish a standard time for the activity by direct observation and timing.

Labour Standard

Labour standard represents the amount of time required to perform a job or part of a job at a defined level of performance, often used in planning and evaluating labor efficiency.