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Questions and Answers
What is the primary purpose of a tariff?
What is the primary purpose of a tariff?
- To reduce global competition
- To promote free trade
- To increase global resource utilization
- To protect domestic industry and jobs from foreign competition (correct)
What is the result of countries specializing in producing goods and services they can produce most efficiently?
What is the result of countries specializing in producing goods and services they can produce most efficiently?
- Increased trade barriers
- Better use of global resources and lower prices (correct)
- Decreased global competition
- Higher prices for goods and services
What has opened enormous opportunities for managers to expand their market?
What has opened enormous opportunities for managers to expand their market?
- Imposition of tariffs
- Rise of protectionism
- Increase in global competition
- Declining trade barriers (correct)
What is the outcome of nations becoming increasingly interdependent and similar?
What is the outcome of nations becoming increasingly interdependent and similar?
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What is the effect of free trade on global resource utilization?
What is the effect of free trade on global resource utilization?
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What is the consequence of managers now being able to buy and sell goods and services globally?
What is the consequence of managers now being able to buy and sell goods and services globally?
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What is the primary driver of globalization?
What is the primary driver of globalization?
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What is the outcome of specialization in production?
What is the outcome of specialization in production?
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What has led to increased intensity of global competition?
What has led to increased intensity of global competition?
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What is the result of nations becoming more integrated and interdependent?
What is the result of nations becoming more integrated and interdependent?
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