Which Level of Decisions Encompasses Greater Risk,cost and Profit Potential

question 69

Multiple Choice

Which level of decisions encompasses greater risk,cost and profit potential?

• A) Business
• B) Lower echelon
• C) Corporate
• D) Functional

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Definitions:

Import Quotas

Restrictions imposed by a government on the quantity or value of goods that can be imported into a country, used to protect domestic industries.

Tariff

A tax imposed on imported goods, usually to raise government revenue and protect domestic industries from foreign competition.

Import Quota

A government-imposed limit on the quantity or value of a particular good that can be imported into a country.

Equilibrium Price

The price at which the market is in equilibrium, that is, the quantity of a good or service demanded equals the quantity of that good or service supplied; also referred to as the market-clearing price.