You and your spouse are in good health and have reasonably secure jobs. Each of you makes about $25,000 annually. You own a home
with an $140,000 mortgage, and you owe $14,000 on car loans, $4,800 in personal debt, and $3,500 in credit card loans. Funeral expenses are estimated at $7,000. You have no other debt. You have no plans to increase the size of your family in the near future. Estimate your total insurance needs using the DINK method
This scenario is an example of [budget review, Six Sigma, Total quality managment], a principle that is most likely being implemented to[eliminate waste,foster teamwork,exceed customer expectations].
The scenario discussed in the question is an example of six sigma. Six Sigma refers to a data driven method that is used in detecting defects and eliminating wastes. It helps organizations improve their business processes capability which is vital in the improvement of performance and the reduction in defects.
Six sigma also beings about improvement in the morales of the workers, and the improvement in profits.
Tariffs increase the prices of imports, helping domestic producers, while voluntary restraints do not.
Explanation:
A tarrif is defined as a tax that is imposed by government on goods and services that are imported from another country. Tarrifs are used to discourage imports by increasing their prices compared to locally produced goods and services.
Voluntary restraint agreements is is also called voluntary export restraint. It is a restriction on the amount of goods and services that exporters are allowed to export to other countries. It is also referred to as export visa.
Tarrifs results in increase in price of goods and services while voluntary restraint agreement does not.
