What is protectionism and why might a government adopt it as a policy? Explain how three examples of protectionism function
What will be an ideal response?
A country that has a policy of protectionism enforces rules on foreign firms in order to give home companies an advantage. Examples of protectionism include tariffs, embargoes, import quotas, and local content rules. Import quotas are set on foreign goods in order to reduce competition for domestic industries. This can make goods more expensive within a country because the absence of cheaper foreign goods reduces pressure on domestic firms to lower prices. An embargo is an extreme quota that completely prohibits trade with a specified country. Tariffs are taxes on imported goods, making foreign goods more expensive and giving domestic goods a price advantage. Local content rules mandate the use of components supplied by domestic industries in imported products.
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Explain the marketing strategy known as the pure selling approach, giving one example of its implementation
What will be an ideal response?
To record the adjustment from a ________, the liability account is debited and the revenue account is credited at the end of the period
a. deferred revenue b. accrued expense c. deferred expense d. accrued revenue
Which of the following is an advantage of secondary data?
A. Secondary data often fits the research problem exactly. B. Secondary data can alone provide specific answer to a research problem. C. Secondary data are a fast way to get information. D. Secondary data are always updated and current. E. Secondary data has high validity regardless of the methodology used.
Demographic profiles of customers provide an easily understood "snapshot" of the typical consumer in a specific target market.
Answer the following statement true (T) or false (F)