Which of the Following Groups Is Likely to Lose from Free

question 123

Multiple Choice

Which of the following groups is likely to lose from free trade?

• A) producers of an industry that has been protected from foreign competition
• B) consumers purchasing goods and services
• C) firms aware of the potential gain from free trade
• D) foreign producers buying quota rights to sell goods in the domestic market
• E) domestic producers importing raw materials for the production of manufactured goods

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Definitions:

Market Value

The current price at which an asset or service can be bought or sold in the marketplace.

Unintentionally Biased Estimates

Judgments or projections in financial analysis influenced by unintentional prejudices or statistical biases.

Estimating Errors

Mistakes or inaccuracies in forecasting future values or costs, often leading to deviations from expected outcomes.

Unbiased Managers

Refers to managers who make decisions without prejudice or favoritism, aiming for fairness and objectivity in business operations.