________ ________ Environment Refers to the Tools and Technologies Used

question 30

Short Answer

________ ________ Environment refers to the tools and technologies used to implement a given project.

---

Definitions:

Import Tariffs

Taxes imposed by a government on goods and services imported from other countries to protect domestic industries from foreign competition or to generate revenue.

Comparative Advantage

The capacity of a person, business, or nation to manufacture a product or deliver a service with a smaller opportunity cost than that of their rivals.

Production Possibility Frontier

A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, labor, technology).

Trade Protection

Measures implemented by governments to regulate international trade and protect domestic industries from foreign competition.