Figure 6-1 -Based on Figure 6-1 Above,what Is MOST LIKELY the Industry

question 146

Multiple Choice

Figure 6-1
-Based on Figure 6-1 above,what is MOST LIKELY the industry sector represented by NAICS code 51?

• A) manufacturing
• B) fisheries
• C) information
• D) publishing
• E) retailing

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Definitions:

Tariff

A tax imposed on imported goods and services to increase their price and make domestic products more competitive.

U.S. Market

This term refers to the economic market in the United States encompassing the trading of goods, services, securities and commodities.

Comparative Advantage

The ability of a country or firm to produce a particular good or service at a lower opportunity cost than others.