To Qualitatively Evaluate Consumer Products and Services, Consumers Union First

question 28

Multiple Choice

To qualitatively evaluate consumer products and services, Consumers Union first identifies the relevant characteristics of a product. It then tests comparable products of various manufacturers and classifies products as:

• A) Best buy
• B) Acceptable
• C) Not acceptable
• D) All of the above
• E) "B" and "C" only

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Definitions:

Free Trade

The unrestricted buying and selling of goods and services between countries without the imposition of tariffs, quotas, or other restrictions.

Domestic Producers

Companies or individuals that manufacture or produce goods and services within their home country, as opposed to importing them from abroad.

Tariffs and Quotas

These are trade policies where tariffs are taxes on imported goods, and quotas are limits on the amount of a good that can be imported.

Import Substitution

An economic policy aimed at replacing foreign imports with domestic production to promote local industries.