Protectionism Is the Use of ________ to Protect Domestic Firms

question 48

Multiple Choice

Protectionism is the use of ________ to protect domestic firms from foreign competition.

• A)military force
• B)trade barriers
• C)cheap labor
• D)dumping

---

Definitions:

Labor Standards

The established benchmarks or expectations for the amount of time and effort required to perform a job or task efficiently.

Operations

The day-to-day activities involved in running a business, especially those related to production, manufacturing, or providing services.

Standard Cost System

An accounting system that uses predetermined costs for products or services to help managers control expenses and analyze operational performance.

Direct Labor

The labor costs that can be directly attributed to the production of goods or services, such as wages for workers who assemble a product.