Explain Why Are Nations Are Tempted to Use Policies of Imposing

question 40

Essay

Explain why are nations are tempted to use policies of imposing tariffs on imported goods, and devaluating their national currency? Further explain why implementing such policies are huge mistakes?

---

Definitions:

Inseparability

A characteristic of services indicating that they are produced and consumed simultaneously, and cannot be separated from their providers.

Intangibility

A characteristic of services that means they cannot be seen, touched, tasted, or easily quantified before they are purchased.

Perishable Nature

A characteristic of goods that have a limited lifespan and deteriorate or lose value over time, such as food products or live plants.

Inventory

The total amount of goods or materials held in stock by a business, including raw materials, work-in-progress, and finished goods.