Cutting Edge Inc

question 39

Multiple Choice

Cutting Edge Inc. makes and sells tools. One of the tools is believed to be hazardous. The firm may be required to​

• A) ​export the tool and sell it only abroad.
• B) ​increase the price to cover the cost of any injuries or damage.
• C) ​reduce the price to indicate the hazard to consumers.
• D) ​remove the tool from the market.

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Definitions:

Tariffs

Taxes imposed by a government on imported or exported goods.

United States

A country located in North America, consisting of 50 states, a federal district, five major self-governing territories, and various possessions, known for its large economy and advanced technology.

Import

The act of bringing goods or services into a country from abroad for sale.

U.S. Tariff

A tax imposed by the United States government on imported or, less commonly, exported goods.