Please Define the Following Key Terms

question 7

Essay

Please define the following key terms. Show Who? What? Where? When? Why Important?
-The Index of Prohibited Books

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Definitions:

Technological Efficiency

A state of production where a business cannot produce more of one good without lowering the production level of another good, given current technology.

Import Protection

Measures by a government to restrict foreign imports to protect domestic industries.

Import Quotas

Restrictions set by a country on the amount or volume of goods that can be imported into the country over a set period of time.

Consumer Surplus

The discrepancy between what consumers are prepared to spend on a good or service and what they end up paying.