What Are the Effects of a Tariff, and Who Benefits

question 50

Essay

What are the effects of a tariff, and who benefits and who loses when tariffs are imposed? What are the effects of a quota, and who benefits and who loses when quotas are imposed?

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Definitions:

Responsiveness

The ability of a company, system, or individual to quickly and effectively respond to customer requests, market changes, or other demands.

Service Quality

The assessment of how well a delivered service matches the expectations of the customer, often a critical component in customer satisfaction.

Customer Contact Audit

An evaluation of all the points at which a business interacts with its customers to assess and improve service quality and customer experience.

Flowchart

A diagram that depicts a process, system, or computer algorithm, typically using symbols to represent steps and arrows to show the flow direction.