Governmental Actions at Times Are Designed to Discourage Imports and Block

question 8

Essay

Governmental actions at times are designed to discourage imports and block market access.Why do governments want to curtail imports? Explain some of the barriers that are placed to discourage imports.

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Definitions:

Supplies

Items and materials used in the daily operations of a business, often consumable and regularly replaced.

Material Price Variance

The difference between the actual cost of materials and the expected (or standard) cost.

Labor Rate Variance

The difference between the actual cost of labor and the expected (or budgeted) cost, based on predetermined rates and actual hours worked.

Variable Overhead Rate Variance

The gap between what was actually spent on variable overhead and what was predicted to be spent, considering the actual activity level.