Which of the Following Is a Tool Used for Protectionism

question 3

Multiple Choice

Which of the following is a tool used for protectionism?

• A) Service tax
• B) Bank rate
• C) Tariffs
• D) Open market operations

---

Definitions:

Administrative Costs

Expenses related to the general operation of a business, such as salaries of executive personnel, office supplies, and utilities.

Cost Accounting Systems

Systems used by businesses to track, record, and analyze costs associated with their operations, with the aim of improving efficiency and profitability.

Accumulate Production

This term may not be standard; however, it could refer to the process of compiling or aggregating the total output of goods or services produced over a period.

Work in Process Inventory

Items currently in production but not yet completed; part of a manufacturing company's inventory.