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An Import Tariff Will Cause the Terms of Trade of the ________

question 36

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An import tariff will cause the terms of trade of the ________ country to ________ and will ________ the country.


Definitions:

Continuous-Process Production

Raw materials are continuously transformed by an automated system.

Lean Production

A manufacturing philosophy that emphasizes the minimization of waste and maximization of efficiency within the production process.

Competitive Advantage

Allows an organisation to deal with market and environmental forces better than its competitors.

Service Quality

An assessment of how well a service meets or exceeds customer expectations.

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