______________ Occur(s)when Lower-Cost Imports from Outside the Union Are Replaced

question 36

Multiple Choice

______________ occur(s) when lower-cost imports from outside the union are replaced by higher-cost imports from another union member.

• A)Trade creation
• B)Trade diversion
• C)Economies of scale
• D)Increasing opportunity costs

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Definitions:

Japanese Approach

A method or strategy characterized by elements of Japanese culture or business practices, often emphasizing consensus and harmony.

Design of Work

The process of specifying the job responsibilities, work environment, and tools required to perform a certain task or job effectively.

Worker Control

The degree to which employees can influence or direct their work environment and tasks, impacting job satisfaction and productivity.

Job Enrichment

A management concept focused on redesigning jobs to incorporate higher levels of responsibility and engagement to increase employee satisfaction and productivity.