Tariffs Are Imposed for Which of the Following Reason

question 337

Multiple Choice

Tariffs are imposed for which of the following reason?

• A) collection of revenue
• B) protection of domestic industries from foreign competition
• C) political control
• D) All of the above

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Definitions:

Determinant Attributes

Key features or characteristics of a product or service that influence the buyer's decision to purchase.

Financial Risk

The possibility of losing money on investments or business activities, encompassing a wide range of risks including market, credit, operational, and liquidity risks.

Noncompensatory Decision Rule

At work when consumers choose a product or service on the basis of a subset of its characteristics, regardless of the values of its other attributes.

Compensatory Decision Rule

At work when the consumer is evaluating alternatives and trades off one characteristic against another, such that good characteristics compensate for bad ones.