ECO4451 Economics Worksheet - Explain the different between tariff

Question # 00641886
Course Code : ECO4451
Subject: Economics
Due on: 11/23/2022
Posted On: 11/22/2022 09:15 PM
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ECO 4451 Economics Worksheet

1. Explain the different between tariff and quota Like: Tariff: markets decide quantity Quota: government decides quantity

2. Why tariffs are #1 form of protection? (2 to 3 reasons) Justifications for protection? 

3. Why uncertainty is really important in international trade?

4. Culture: why important in business world? Diference between face saving success culture base Saying yes even if you mean no? Know what international trade is (we live in a global economy so what does that mean?)

5. Define what an American made product is There is no such thing Global trade means everything wu use has been imported/exported somewhere 6.define what taboos are-universal (but not for outside) inside V. outsides

6. Different between imports and exports

7. Define comparative advantage – be able use lower opportunity cost

8. Other types of protection beside tariffs and quotas

9. Types of tariffs and how fully work 10. Why must we take Economics of Globalization class?

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ECO4451 Economics Worksheet - Explain the different between tariff

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