A fiscal year is a 12-month financial planning period that may or may not coincide with the calendar year.
Agriculture and clothing are the two industries receiving protection.
Protectionism in agricultural trade takes numerous shapes from charges and red tape at the border to so-called non-tariff measures such as agricultural and nourishment security guidelines that surpass those suggested by international public health bodies. The World Trade Organization (WTO) does not set benchmarks but emphatically energizes part nations to utilize universally acknowledged science-based benchmarks at whatever point available along with that The textile and apparel sectors are the foremost ensured segments within the world. not at all like the assurance managed other manufactured items, the materials and apparel segments within the created nations show up to be the beneficiaries of changeless security. Beneath the MFA, trades from creating nations are restricted by sending out shares coming about from bilateral courses of action arranged with bringing in created nations. MFA was at first aiming to supply an efficient but controlled liberalization of universal exchange in materials and attire.
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Answer:
Sunk cost
Explanation:
The sunk cost is the cost already incurred that will not be recovered in the future. Plus, it's also called past expenses.
This expense is not considered at the time when the decisions are taking and it should be neglected as it is not relevant at the time of the decision-making process
In the given scenario since the amount already spent for a movie ticket and for popcorn and we know that we cannot recover now so it would be termed as a sunk cost
The bakery market in a large city is an example of Monopolistic competition.
Monopolistic competition exists when many companies offer competing products or services that are similar, but not perfect, substitutes. In this case, the bakeries in large cities that produce similar, but not identical products. The market structure is a form of imperfect competition.
Some of the characteristic of a monopolistic competition structure are;
The presence of many companies.
Each company produces similar but differentiated products.
Companies are not price takers.
Free entry and exit in the industry.
Companies compete based on product quality, price, and how the product is marketed.
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