The opportunity costs of exploiting owned resources are implicit costs. Implicit costs are a special kind of opportunity cost: they represent the cost of the company's existing resources.
This could have been used in another way. For example, an entrepreneur who runs a firm might use her labor to make revenue at a job. Any cost that has already occurred but isn't necessarily displayed or reported as a distinct item is known as an implicit cost.
It indicates an opportunity cost that develops when a corporation employs internal resources toward a project without any clear reimbursement for the exploitation of resources. Implicit costs are the production opportunities costs that do not call for a monetary payment.
Learn more about implicit costs Visit: brainly.com/question/15112907
#SPJ4
Boundaries serve to protect the client's well-being caused by?
Boundaries serve to protect the client's well-being in a number of ways, sucha as, maintaining professional conduct, protecting client confidentiality, avoiding conflicts of interest, promoting healthy relationships, preventing exploitation or abuse.
Maintaining professional conduct: Boundaries help to define the parameters of the client-professional relationship and ensure that both parties behave in an ethical and professional manner.Protecting client confidentiality: Boundaries ensure that confidential information shared by the client is protected and not disclosed to unauthorized parties.Avoiding conflicts of interest: Boundaries help to avoid situations where the professional may have competing interests or loyalties that could compromise the client's well-being.Promoting healthy relationships: Boundaries help to establish a clear and healthy dynamic between the client and professional, promoting trust and respect.Preventing exploitation or abuse: Boundaries help to prevent exploitation or abuse of the client by the professional, ensuring the client's well-being and safety.Overall, boundaries serve as important safeguards for the client's well-being and help to ensure a positive and effective therapeutic relationship.
You can learn more about Boundaries at
https://brainly.com/question/26255304
#SPJ4
What inventory method is used to account for automobiles, jewelry, and art objects?
a. FIFO
b. LIFO
c. average-cost method
d. specific identification method
The correct option: d. specific identification method, used as the inventory method in account for jewelry, automobiles, and art objects.
Explain about the specific identification method?When a business is able to recognise, identify, and track each product or unit through its inventory, this specific classification is practical and functional.
The precise identification technique refers to inventory valuation, notably maintaining track of each distinct item in stock and allocating expenses per item rather than as a group.When a business is able to recognise, mark, and keep track of each item every unit in its inventory, it is functional and useable.The main disadvantage of the particular identification approach is that it demands the ability to accurately and consistently identify each individual item in an organization's inventory, keep track of how much each item costs, and produce each item upon sale or the assurance of sale.Thus, specific identification method, used as the inventory method in account for jewelry, automobiles, and art objects.
To know more about the specific identification method, here
https://brainly.com/question/15319587
#SPJ4
Refer to Table 4-1. Suppose that D2 and S1 are the prevailing demand and supply curves for a product. If the demand schedule changes from D2 to D1, then:
Price D 1 D 2 S 1 S 2
$12 5 9 19 14
$10 8 12 17 12
$8 11 15 15 10
$6 13 18 13 8
$4 16 21 11 6
$2 18 24 9 4
a. equilibrium price increases from $6 to $8
b. equilibrium quantity increases from 13 to 18
c. equilibrium quantity decreases from 15 to 13
d. equilibrium price decreases from $6 to $4
The answer is option c. equilibrium quantity decreases from 15 to 13, We note from the preceding table that the equilibrium point for D2 and S1 is Quantity=15 and Price=$8, While the equilibrium point for D1 and S1 is Quantity=13 and Price=$6, So, changing the schedule from D2, S1 to D1, S1 then equilibrium quantity decreases from 15 to 13.
What is an illustration of economic equilibrium?Potato vendors charge $5 for a bag of potatoes. However, nobody shows up and purchases any potato bags. As a result, supply is far higher than demand. There is an unbalanced economy. After that, the vendors lower their cost to $1 per bag.
What are the different types of equilibrium in economics?In a market-based economy, economic factors like supply and demand are in balance, which is known as economic equilibrium. If there are no external influences, economic variables are in their natural state when they are in equilibrium.
To know more about Equilibrium visit:
https://brainly.com/question/29432120
#SPJ1
to identify some form of common global ethics, partners in the organization of american states signed the inter-american convention against corruption. the united nations adopted a formal condemnation of __________ in making business deals as did the european union and the organization for economic cooperation and development.
The Inter-American Convention Against Corruption (IACAC) was adopted by using the member nations of the Organization of American States on 29 March 1996; it came into pressure on 6 March 1997. It was the first global convention to address the query of corruption.
What are the kinds of corruption as recognized by using the United Nations Convention against Corruption UNCAC?The Convention would oblige States Parties to establish as criminal offences bribery of country wide public officials; active bribery of foreign public officials; embezzlement, misappropriation or different diversion of property by means of a public official; money laundering; and obstruction of justice.
The Follow-Up Mechanism for the Implementation of the Inter-American Convention in opposition to Corruption (MESICIC) is the Anticorruption Mechanism of the OAS. It brings collectively 33 of the 34 Member States to evaluate their prison frameworks and institutions in the mild of the Inter-American Convention against Corruption.
Learn more about Inter-American Convention against Corruption here:
https://brainly.com/question/19227575#SPJ4The two most important inventory-based questions answered by the typical inventory model are ______.
1. How much inventory should be ordered and when?
2. What is the optimal order quantity and reorder point?
The first question addresses the decision of how much inventory to order and when, taking into consideration factors such as lead time, holding costs, and shortage costs. The second question focuses on determining the optimal order quantity and reorder point, which is the level of inventory at which a new order should be placed, in order to minimize total inventory costs (such as holding and ordering costs).
These questions are crucial for effective inventory management as they help to minimize costs while ensuring that customer demand is met in a timely manner. The answers to these questions can be used to develop and implement an inventory control policy that balances the trade-off between holding costs and shortage costs, and helps to minimize overall inventory costs.
what is used to describe a practice where a customer purchases excess parts in advance?a. hedgingb. risky buyingc. forward buyingd. buying to forecast
The correct term used to describe the practice where a customer purchases excess parts in advance is "forward buying" (option c).
The purchase can be made directly from the manufacturer or supplier, or through an intermediary such as a distributor.
The purpose of forward buying is to secure a reliable supply of goods and reduce the risk of price fluctuations or supply disruptions.
By purchasing in advance, the customer can lock in a fixed price and avoid price increases due to inflation or changes in market conditions.
However, there are also potential drawbacks to forward buying. If the customer overestimates their future demand, they may end up with excess inventory that they cannot use or sell, leading to storage costs and potentially lost revenue.
On the other hand, if the customer underestimates their future demand, they may face supply shortages and have to purchase additional parts at higher prices, negating the benefits of forward buying.
Hence the option (c) is correct.
To know more about customer here
https://brainly.com/question/13472502
#SPJ4
a south american nation imposes an ad valorem tariff of 10 percent on 1 million tons of wheat imports, after which an out-of-quota tariff of 80 percent is applied. what trade policy instrument is this nation using?
Prior to being subjected to a 70 % of total out-of-quota duty, one millions of tons of wheat are liable for a ten percent ad valorem levy. What trade policy instrument
What does "percent" actually mean?
In essence, % refers to the ratio of any number to a full value divided by 100. The symbol used to denote percent is "%". Let's look at how % values are calculated. A percentage is a number or ratio that is expressed as a proportion of 100. The percentage symbol "%" is used to denote it.
How does one calculate a percentage?
Find the percentage or compute it using the point frequency and percent data. Use percent formulas to solve equations with unknown percentages and factors. Answer the equations, or increase or decrease a number by a percentage. There are many formulas for percentage problems. The most straightforward formula is X/Y Corresponds P x 100.
To know more about percent visit:
https://brainly.com/question/28840349
#SPJ1
approximately how many people are expected to watch the super bowl this year?
It's difficult to predict exactly how many people will watch the Super Bowl in any given year, but it's typically one of the most-watched television events in the United States. The Super Bowl is known for its big-budget advertisements, halftime show featuring major music stars.
In recent years, the number of viewers has been around 100-110 million in the United States alone, and that number is expected to remain similar this year. The pandemic may have an effect on the number of viewers, as people may be more inclined to watch from home rather than attend large gatherings. However, it's worth noting that the Super Bowl's viewership numbers have been declining in recent years, due in part to the rise of streaming services and the increasing number of cord-cutters who don't subscribe to traditional cable TV. Nonetheless, the Super Bowl remains one of the biggest cultural events in the United States, and it's sure to draw a massive audience.
For more information on viewership see:
https://brainly.com/question/19091902
#SPJ4
The revenue recognition principle dictates that revenue is recognized in the period in which the cash is received.
A.True
B.False
The answer is False. The revenue recognition principle dictates that revenue is recognized in the period in which the performance obligation is satisfied.
Performance obligation is defined as “a promise in a contract to transfer a distinct good or service to the customer”. In other words, revenue is recognized when the goods or services are delivered to the customer, not necessarily when the cash is received.
For example, Company A sells product X to Customer B for 500. Customer B pays Company A 500 in cash, but Company A does not deliver product X until the following month. In this case, Company A would not recognize the revenue from the sale until the next month, when product X is delivered. The cash received from Customer B in the current month would be recognized as an increase in cash, not as revenue.
Learn more about revenue here:
https://brainly.com/question/29567732
#SPJ4
A store charges a restocking fee for any returned item based upon the item price. An item priced at $200 has a fee of $12. An item priced at $150 has a fee of $9. Use ratios to determine if the restocking fee is proportional.
To determine if the restocking fee is proportional, we can compare the ratios of the item price to the restocking fee for each item. If the ratios are equal, then the restocking fee is proportional to the item price.
Let's call the restocking fee "r" and the item price "p". Then, for the first item: r/p = $12/$200 = 6/100 = 3/50
And for the second item: r/p = $9/$150 = 6/100 = 3/50
as it should be since the ratios are equal for both items, we can conclude that the restocking fee is proportional to the item price.
You can read more about item pricing at https://brainly.com/question/3521758
#SPJ4
Which choice is an example of a charge card?
A. American Express
B. VISA
C. Mastercard
D. Discover
Answer:
option a
Explanation:
If the cost of labor is the only variable cost that the firm faces, what is the cost incurred by the business for each additional unit of
labor?
(1 point)
O $16
O $10
O $50
O $80
If the cost of labor is the only variable cost that the company encounters, each additional unit of labor will cost the company (A) $16.
What is the variable cost?Costs that vary according to how much of a good or service a company produces are known as variable costs.
The total marginal costs across all units produced represent variable costs.
They may also be regarded as typical expenses.
The two elements of the total cost are fixed costs and variable costs.
Direct costs are expenses that are directly related to a certain cost object.
But not all variable costs are related to direct expenses.
For instance, variable overhead costs in manufacturing are variable expenses that are indirect costs rather than direct costs.
Because they change depending on how many units are produced, variable costs are also known as unit-level costs.
So, each row of the table's table increases the variable cost by $80 and the number of employees by 5.
Given this, we can divide 80 by 5 to get 16, which represents the additional expense the company must bear each time it hires a worker.
Therefore, if the cost of labor is the only variable cost that the company encounters, each additional unit of labor will cost the company (A) $16.
Know more about the variable cost here:
https://brainly.com/question/13896920
#SPJ4
Complete question:
If the cost of labor is the only variable cost that the firm faces, what is the cost incurred by the business for each additional unit of labor?
(1 point)
AO $16
BO $10
CO $50
DO $80
Steve Gaimes is paid overtime for all time worked past 40 hours in a week. His
regular-time pay rate is $12 an hour, and his overtime pay rate is $18 an hour.
Last week Steve worked 47.3 hours.
15. How many regular-time hours did Steve
work last week? 40
16. How many overtime hours did he work last
week? 7.3
17. What was Steve’s regular-time pay last
week? $480
18. What was his overtime pay last week? $131.40
19. What was Steve’s gross or total pay last
week?
The number of regular hours, overtime hours, regular amount, overtime amount, and total amount will be 40 hours, 7.3 hours, $480, $131.4, and $611.4, respectively.
What is the rate?The rate is the ratio of the amount of something to the unit.
Steve Gaimes is settled overtime for all periods operated past 40 hours in a week. His standard-time pay rate is $12 an hour, and his overtime pay pace is $18 an hour. The previous week Steve performed 47.3 hours.
Then the overtime is given as,
⇒ 47.3 - 40
⇒ 7.3 hours
The amount earned in 40 hours is given as,
⇒ $12 x 40
⇒ $480
The amount earned in overtime hours is given as,
⇒ $18 x 7.3
⇒ $131.4
The total amount is given as,
⇒ $480 + $131.4
⇒ $611.4
More about the rate link is given below.
https://brainly.com/question/14731228
#SPJ9
Unlike price ceilings, price floors lead to very positive effects when properly implemented.
True or false?
False, Unlike price ceilings, price floors lead to very positive effects when properly implemented.
What results do price floors and ceilings have?
Price ceilings restrict prices from increasing above a particular threshold. When a price ceiling is set below the equilibrium price, there will be excess demand or shortages since there will be more demand than supply. Prices are protected from falling below predetermined levels by price floors.
What occurs after a pricing floor is put in place?
A price floor is intended to restrict the amount by which the price of a commodity or group of commodities can be decreased.
Consumers will be forced to pay more for that good or service than they would if prices were set in accordance with free market principles if they are set above the market equilibrium price.
Learn more about Price ceilings
brainly.com/question/8868002
#SPJ4
a country may actually make itself better off by levying a tariff if:______.
Answer: All of the above
What need does the product meet for customers?
The product meets the need for customers to have a convenient, affordable and reliable way to manage their finances, as well as for customers to be able to access their financial information and make payments quickly and securely.
The product for customers should be tailored to the specific needs and requirements of the customer. Companies should design products that are easy to use, meet customer expectations, and provide value for money.
Companies should also take customer feedback into account when designing products, as this will help them to create better products. Additionally, customer service should be a priority, as this will help to build customer loyalty and trust.
To learn more about product for customers link is here
brainly.com/question/28502787
#SPJ4
Question:
A decrease in input costs to firms in a market will result in a(n):
a) decrease in equilibrium price and an increase in equilibrium quantity.
b) decrease in equilibrium price and a decrease in equilibrium quantity.
c) increase in equilibrium price and a decrease in equilibrium quantity.
d) increase in equilibrium price and an increase in equilibrium quantity.
Equilibrium:
In microeconomics, the term equilibrium can be defined as the market stability point. This is because it is determined from the intersection of the demand and supply curves in the market.
The right response is d) a rise in the equilibrium quantity and the equilibrium price. As enterprises are able to produce more at any given price due to lower input costs, the supply curve will move to the right.
The right response is D), which refers to a rise in both equilibrium quantity and price. As businesses can produce more at a given price due to lower input costs, the supply curve will move to the right in a market. This will cause the equilibrium price to fall and the equilibrium quantity to rise. However, the drop in input costs will also result in higher profits, which might spur the entry of new businesses and raise competition. The market will gradually adapt to the new circumstances, leading to an increase in the equilibrium price and quantity as a result of the increased competition. In light of this, the right response is a rise in both equilibrium quantity and price.
Learn more about equilibrium here:
https://brainly.com/question/28527601
#SPJ4
What are the three levels of business planning?
The three levels are corporate level strategy, business level strategy, and functional strategy.
What stages of planning are there in a business?
The strategic, tactical, operational, and contingency phases of an effective organizational plan are all included. Planning is done in phases, with strategic planning being the first. Each phase is a subset of the one before it.
What are the three planning levels?
Plans of three main categories—strategic, tactical, and operational—can aid managers in achieving the objectives of their companies. Operational plans enable tactical plans to be accomplished, while tactical plans in turn enable strategic plans to be accomplished.
Business executives can create objectives at all levels of the organization, from the highest corporate level to the lowest functional level, thanks to these various levels of strategy.
Learn more about the levels of planning
brainly.com/question/25568085
#SPJ4
which fortune 500 company was the first billion-dollar american business?
The first billion-dollar American business was the United States Steel Corporation, which was founded in 1901 by the famous industrialist Andrew Carnegie.
At the time, it was the largest company in the world and controlled over three-quarters of American steel production. The company was created through the merger of several large steel companies, including Carnegie Steel, Federal Steel, and National Steel.
Its market dominance and massive size made it a symbol of the power of American industry during the early 20th century. The company remained a Fortune 500 company until 1991 when it was removed from the list due to declining revenues and market share.
However, it remains an important part of American industrial history and a key example of the consolidation of big business during the Gilded Age.
To learn more about Fortune 500
https://brainly.com/question/16750783
#SPJ4
Which of the following is not addressed by a government assistance program? (1 point)
O food insecurity
O health care issues
O housing
O travel
The travel is not addressed by a government assistance program. Thus option (D) is correct.
What is government?A government is the system of politics for running the nation. There are different forms of government like democracy, aristocracy, monarchy, and oligarchy.
A government makes rules and order for running the nation, state, or any political unit. A government makes defense laws, foreign policy, budget and sources of revenue and expenditure for a nation.
The travel is not addressed by a government assistance program. Therefore, option (D) is correct.
Learn more about government here:
brainly.com/question/17166802
#SPJ1
What is aggregate supply?
Aggregate supply is the total amount of goods and services that firms are willing to supply in an economy at a given price level in a given time period.
Aggregate supply is the total amount of goods and services that firms are willing and able to produce at a given price level in a given time period. It is represented by the aggregate supply curve, which shows the relationship between the price level and the quantity of goods and services supplied. There are two main determinants of aggregate supply: the cost of production and the availability of resources. Changes in these factors can shift the aggregate supply curve, affecting the overall level of economic activity.
Learn more about "aggregate supply" here:
https://brainly.com/question/29349235
#SPJ11
How a mock interview does take place?
Overview of how a mock interview typically takes place; Preparing for the interview, Setting up the mock interview, Conducting the interview, and Debriefing & feedback.
A mock interview is a practice interview that is designed to help job seekers improve their interviewing skills and increase their confidence for an actual job interview. A mock interview can be conducted in various ways, depending on the resources available and the preferences of the participants.
Here's an overview of how a mock interview typically takes place:
Preparing for the interview: Before the mock interview, the participant should research the company and the position they are applying for, and prepare answers to common interview questions. They should also dress appropriately and bring a copy of their resume and any other relevant documents.Setting up the mock interview: The mock interview can be conducted in person or online, depending on the preference of the participant and the availability of resources. If it is an in-person interview, the participant should arrive at the location early and be prepared to start the interview at the scheduled time. If it is an online interview, the participant should make sure that their internet connection and audio/video equipment are working properly.Conducting the interview: The interviewer will start the interview by introducing themselves and explaining the purpose of the mock interview. They may also provide feedback and guidance during the interview, depending on the preferences of the participant. The interviewer will ask a series of questions that are commonly asked in job interviews, and the participant will respond as they would in a real interview.Debriefing and feedback: After the interview is over, the interviewer will provide feedback to the participant, highlighting their strengths and areas for improvement. They may also provide tips on how to improve their interviewing skills. The participant can also ask any questions they have about the interview process and get additional feedback from the interviewer.Overall, a mock interview is a valuable tool for job seekers to improve their interviewing skills and increase their confidence for an actual job interview.
For more such questions on Mock Interview: brainly.com/question/12315267
#SPJ4
How much did The Home Depot's sales revenue increase or decrease in the year ended February 2, 2020? a) Increased $121 (million) b) Decreased $2,022 (million) c) Increased $2,022 (million) d) Decreased $121 (million)
Answer: c) Increased $2,022 (million)
Explanation: When it ask you to look for sales revenue you should look in the balance near the end a title that says "NET SALES" and then below that Cost of Sales. In this case, Fiscal 2019 was $110,225 and Fiscal 2018 $108,203. Giving the number of $2,022 (meaning that has increased compared to last year).
The answer to the question would be found in The Home Depot's financial statements or annual reports for the year ending February 2, 2020. Without this data, it is impossible to definitively determine whether the company's sales revenue increased or decreased, and by what amount.
Explanation:To accurately answer your question, we need to refer to the financial statements or annual reports of The Home Depot. It is in these documents that a company's financial performance including their sales revenue is reported. Unfortunately, I cannot provide the specific dollar amount by which The Home Depot's sales revenue increased or decreased in the year ended February 2, 2020 because that specific information is not provided in your question. Therefore, either option a), b), c), or d) could be potentially correct depending upon the specific financial data for that year.
Learn more about Sales Revenue here:https://brainly.com/question/33370970
#SPJ2
Suppose there is an increase in both the supply and demand for personal computers. In the market for personal computers, we would expect the Equilibrium quantity to ______ and the change in the equilibrium price to be __________
When both the supply and demand for personal computers increase, the market moves towards a new equilibrium. The number of personal computers supplied and demanded will increase, resulting in an increase in the equilibrium quantity.
An increase in supply and demand can cause an increase in the equilibrium price if the increase in demand is greater than the increase in supply. However, if the increase in supply is greater than the increase in demand, we would expect the price to decrease.
The new equilibrium price depends on the slope of the supply and demand curves. If the supply curve is more elastic, meaning that it is more responsive to changes in price, the price will decrease.
If the demand curve is more elastic, meaning that it is more responsive to changes in price, the price will increase. Additionally, the level of competition in the market will also play a role in determining the new equilibrium price.
To learn more about supply
https://brainly.com/question/28902020
#SPJ4
What is business process reengineering?
The business process re-engineering is the management strategy that focus on the analyze and format or design of the workflows and business processes within the organization.
The business process is the process which refers to the collection of the linked tasks which finds their end in the distribution of the products or services to the client.
The purpose of the business process is to help and consultant the company to reach on their target goals. The process of business process is the business process management, business process modeling, marketing, sales and so on of the business process.
To know more about business process here,
https://brainly.com/question/30114375
#SPJ4
What is the basis of international trade?
The basis of international trade is the principle of comparative advantage.
According to the principle of comparative advantage, countries can benefit from trade by specializing in the production of goods or services that they can produce more efficiently or at a lower cost than other countries, and then trading these goods or services with other countries.
For example, if Country A can produce cloth at a lower cost than Country B, and Country B can produce steel at a lower cost than Country A, then both countries can benefit from trade. Country A can specialize in producing cloth and export it to Country B, while Country B can specialize in producing steel and export it to Country A. By doing so, both countries can obtain the goods they need at a lower cost than if they tried to produce everything domestically.
To know more about comparative advantage here
https://brainly.com/question/13221821
#SPJ4
what can we learn from CEAs of whole-body CT screening?
CEA i.e Cost-Effectiveness Analysis studies of whole-body CT screening can provide insights into the costs and benefits of using this screening technique to detect various diseases and conditions.
Such investigations can assist policymakers and medical care suppliers with arriving at informed conclusions about the most fitting screening techniques and asset designation.
CEA review may likewise give data about the possible dangers and damages related with entire body CT screening, including misleading up-sides and overdiagnosis, which can prompt pointless tests, medicines, and expenses. Overall, CEA studies of whole-body CT screening can inform evidence-based healthcare decisions and help ensure that resources are used efficiently and effectively.
Learn more about Cost-Effectiveness Analysis:
https://brainly.com/question/29052036
#SPJ4
in the video clip from the office when the women were communicating with a client, they were using verbal communication to connect and relate.a. true b. false
The statement is False. In the video clip from the office when the women were communicating with a client, they were using verbal communication to connect and relate.
The conversation is the financial system's engine for alternatives and its gateway to new assets and opportunities. It connects key players in the financial system, promotes their communication, and informs their regulations. communique refers to connecting human beings as a way to arrange them with a view of using a not-unusual purpose. Economics of conversation is ready to make use of micro and macroeconomic principles to fee correctly join, prepare, and attain certainly defined goals.
Leaders global capitalizes on an extensive local and global community of professionals and companions to inspire thru human-hobby memories and teach via insightful evaluation and studies. In doing so, we pay acute interest to the media choices of various audiences, the neighborhood context, and the specific needs of vulnerable communities.
To learn more about Communication visit here:
brainly.com/question/22558440
#SPJ4
Cartier corporation currently sells its products for $50 per unit. the company’s variable costs are $20 per unit. fixed expenses amount to a total of $5,000 per month. what is the company’s variable cost ratio?
The Cartier corporation variable cost ratio is 40%.
The variable cost ratio represents the proportion of each sale that is attributed to variable costs. It is calculated as the variable cost per unit divided by the selling price per unit.
In this case, the variable cost per unit is $20 and the selling price per unit is $50. Therefore, the variable cost ratio is:
Variable cost ratio = (Variable cost per unit ÷ Selling price per unit) x 100%
Variable cost ratio = ($20 ÷ $50) x 100%
Variable cost ratio = 0.4 x 100%
Variable cost ratio = 40%
Therefore, the company’s variable cost ratio is 40%.
To know more about variable, click here.
https://brainly.com/question/17344045
#SPJ4
Governments can protect consumers from unsafe products by issuing a limit or a ban on such products. True False.
Governments can protect consumers from unsafe products by issuing a limit or a ban on such products True.
What purpose do laws and regulations that restrict the import of goods and services serve?limiting the entry of goods and services through the application of government rules. Supporters assert that it enables domestic producers to expand, creating more jobs. Tariffs, import quotas, and embargoes are the main implements of protectionism.
Which government policy serves as an example of one that shields domestic producers against competition from abroad?Protectionist policies frequently aim to ward off foreign competition for native workers and producers. The three basic types of protectionism are tariffs, import quotas, and nontariff barriers. Recall that tariffs are levies imposed on imported products and services from the section on international trade.
To Know more about Governments
https://brainly.com/question/16940043
#SPJ4