Question

Use the table to match each definition to the term. Definition Terms Tariff Quota Dumping A...

Use the table to match each definition to the term.

Definition

Terms

Tariff

Quota

Dumping
A tax on goods imported into a country
A legal limit on the amount of a good that can be imported into a country
Exporting goods whose domestic production has been heavily subsidized by the government
Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Tariff is a tax on goods which are either imported/exported. Quota is a specific limit imposed on the import/export of a good to control its supply-demand and other reasons. Dumping refers to exporting goods at a price lower than its normal prevailing price which can be due to local subsidies or lower manufacturing costs.

So, the answers are as follows :

Tariff = A tax on goods imported into a country

Quota = A legal limit on the amount of a good that can be imported into a country

Dumping = Exporting goods whose domestic production has been heavily subsidized by the government

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
What is the main difference between a quota and a voluntary export restraint? a) The importing...
What is the main difference between a quota and a voluntary export restraint? a) The importing country administers a quota; the exporting country administers a voluntary export restraint. b) A quota has deadweight losses, while a voluntary export restraint has no deadweight losses. c) There are no differences between a quota and a voluntary export restraint. d) A quota affects a country's imports, while a voluntary export restraint affects its exports. In Europe, the Common Agricultural Policy is a form...
- A tariff is A) a tax imposed by a government on goods imported into a...
- A tariff is A) a tax imposed by a government on goods imported into a country. B) a subsidy granted to importers of a vital input. C) a limit placed on the quantity of goods that can be imported into a country. D) a health and safety restriction imposed on an imported product. - Absolute advantage is a) the ability to produce more of a good or service than competitors that have fewer resources. b) the ability to produce...
A list of economic terms is shown below. Match each term with its definition. A. Production...
A list of economic terms is shown below. Match each term with its definition. A. Production B. Physical Capital C. Short run D. Long run E. Marginal product F. Specialization G. Law of diminishing returns Place the letter that is shown in front of each term above with that? term's definition. Use only the appropriate letter. Do not write out the term or include the period after the letter. Letter Definition 1. ?Increases in inputs eventually lead to less additional...
Chapter 5 Import Protection Policy: Import Tariffs I. Chapter Overview 1. Types of import tariffs in...
Chapter 5 Import Protection Policy: Import Tariffs I. Chapter Overview 1. Types of import tariffs in terms of the means of collection in terms of the different tariff rates applied in terms of special purposes for collection 2. The effects of import tariffs concepts of consumers surplus and producers surplus the welfare effects of import tariffs 3. Measurement of import tariffs the "height" of import tariffs nominal versus effective tariff rates II. Chapter Summary 1. The means of collecting import...
Suppose you work for a US based soybean manufacturing company which supplies soybeans to other countries,...
Suppose you work for a US based soybean manufacturing company which supplies soybeans to other countries, among which are China and Nigeria. From your company’s sales records, China is responsible for 80% of your company’s global sales and Nigeria is responsible for 0.2% of your company’s sales. Your contract with the companies in both countries has just expired and the week before negotiations are set to start, it is announced that tariffs have been placed on soybeans in both countries....
2. Demand terminology Complete the following table by selecting the term that matches each definition. Definition...
2. Demand terminology Complete the following table by selecting the term that matches each definition. Definition Quantity Demanded Demand Curve Demand Schedule Law of Demand A graphical object showing the relationship between the price of a good and the amount of the good that buyers are willing and able to purchase at various prices The claim that, with other things being equal, the quantity demanded of a good falls when the price of that good rises A table showing the...
QUESTION 8 Firms engage in horizontal integration a. to ensure the quality of goods that reach...
QUESTION 8 Firms engage in horizontal integration a. to ensure the quality of goods that reach the consumer. b. to gain more control of raw materials that will assist their production. c. to defend or increase their market share. d. to limit government scrutiny of their activities.    QUESTION 9 After trade has opened up, the gains that trade brings to consumers of the imported goods are, in absolute value, a. Larger than the losses to domestic producers of that...
2. A demand curve indicate a. the maximum willingness to pay for a given quantity b.the...
2. A demand curve indicate a. the maximum willingness to pay for a given quantity b.the consumer's gain from exchange c.the market price of a good or service d. the equilibrum quantity 3. trade permitts countries to a. consume more than they capable of producing b.produce based on their comparative advantage c.specialize more fully d.all of above 4. which of the following dose not impact how elastic supply is? a. whether the supply is local or global b.the share of...
Match the term with the correct definition or explanation.    Cost-Volume-Profit (CVP) analysis    Break-even analysis...
Match the term with the correct definition or explanation.    Cost-Volume-Profit (CVP) analysis    Break-even analysis Relevant range Fixed costs Variable costs    Contribution margin    Contribution margin ratio Margin of Safety Absorption costing Variable costing Budgeting    Sales budget Production budget    Direct materials budget Cash budget Fixed budget Flexible budget Standard costs Standard overhead costs a. This method excludes fixed overhead costs from total product costs. b. A budget that is prepared based on several different amounts of...
The rise in the value of one currency in relation to another is : Depreciation of...
The rise in the value of one currency in relation to another is : Depreciation of the currency. An appreciation of the currency. A debasement of the currency. A weakening of the currency. Cyclical unemployment refers to unemployment which occurs Because of the seasonal nature of some industries. As a result of the long term decline of the industry. At particular times of the year. As a result of a temporary drop in aggregate demand resulting in a recession. Which...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT