Using a Cause-And-Effect Diagram Helps Identify the Most Likely Causes

question 18

True/False

Using a cause-and-effect diagram helps identify the most likely causes of a problem so that further data collection can be carried out.

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Definitions:

Excise Tax

A specific tax imposed on certain goods, products, or activities, usually to discourage consumption or to raise revenue.

Comparative Advantage

An economic theory that describes how a country or entity can produce goods and services at a lower opportunity cost than others.

International Trade

Trading goods, services, and capital across borders or territories between countries.

World Price

The international market price of a good or service, determined by global supply and demand.