Which of the Following Is Not an Example of a Trade

question 2

Multiple Choice

Which of the following is not an example of a trade restriction?

• A)Tariffs
• B)Quotas and voluntary export restraints
• C)Legislation requiring that cars sold in a country have a 50 per cent domestic content
• D)Consumer preferences for goods produced domestically

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Definitions:

Demanded Design

A design approach or product feature specifically requested or sought after by consumers or the market.

Consumer Surplus

The variance between the amount consumers are ready to spend on a good or service and the actual amount they pay.

Efficiency

The degree to which resources are used effectively and waste is minimized, often aiming at maximizing output from given inputs.

Highest-value Bidder

The participant in an auction willing to pay the most for the item up for bid.