The Conditions Under Which Ambiguity Occurs Include

question 83

Multiple Choice

The conditions under which ambiguity occurs include:

• A) alternatives are difficult to define
• B) objectives are well defined
• C) information about outcomes is readily available
• D) all the alternatives are known
• E) decisions are already made.

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Definitions:

Tariff

A tax imposed by a government on goods and services imported from other countries, to regulate trade and protect domestic industries.

Protectionism

The economic policy of restricting imports from other countries through methods like tariffs and quotas to protect domestic industries.

Frederic Bastiat

Frederic Bastiat was a 19th-century French economist and writer known for his advocacy of free markets, individual freedoms, and his critiques of socialism.

Balance-Of-Trade Deficit

A situation where a country's imports exceed its exports, leading to a negative balance in trade.