If There Are No Trade Restrictions, a Country Will Import

question 12

Multiple Choice

If there are no trade restrictions, a country will import a particular good if _____

• A) domestic quantity supplied equals domestic quantity demanded at the world price.
• B) there is excess quantity demanded by domestic consumers at the world price.
• C) the quantity of the good demanded by domestic consumers decreases.
• D) the quantity of the good supplied by domestic producers increases.
• E) the world price of the good is higher than its domestic price.

Recognize the significance of matching product benefits to customer needs.

Identify the components and importance of sales call planning.

Grasp the role of establishing sales call objectives.

Comprehend the process and components of developing a customer benefit plan.

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Definitions:

Common Resource

A type of good that is non-excludable and rival in consumption, such as public parks or fish in the ocean.

Common Resource

A resource that is available to all, but which can become depleted if overused, such as air, water, or public land.

Marginal Benefit

The added value or utility one experiences by consuming one more unit of a good or service.

Marginal Social Benefit

The extra advantage to the community from creating or using an additional unit of a product or service.