Which One of the Following Is a Correct Representation of PGFs

question 22

Multiple Choice

Which one of the following is a correct representation of PGFs?

• A) I
• B) II
• C) III
• D) IV
• E) V

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Definitions:

Tariff

A tax on imports or exports between sovereign states.

Imports

Goods and services brought into one country from another for sale, typically subject to tariffs and trade agreements.

Buyers

Individuals or entities that purchase goods or services.

Import Quotas

Limits set by a government on the quantity or value of goods that can be imported into a country, often used to protect domestic industries from foreign competition.