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MArishka [77]
3 years ago
10

Which aspect of the Omnibus Trade and Competitiveness Act allows a U.S. president the authority to restrict sales of a country’s

products in the U.S. market if that country is imposing unfair restrictions on U.S. products?
Business
1 answer:
Kipish [7]3 years ago
3 0

Answer:

Market Access

Explanation:

Based on the information provided within the question it can be said that the aspect that is being mentioned is known formally as Market Access. This term refers to the process of making sure that anyone who may benefit has fast and easy access to the brands that are being sold and at the correct price, and that there are no unfair restrictions being imposed.

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Water is a necessary good, but diamonds are luxury goods. At low levels of consumption, water will provide a much higher utility than diamond. Someone very thirsty will derive much more satisfaction from drinking water than from acquiring diamonds.

Marginal benefits arise from the consumption of extra units. After one has quenched their thirst,  consuming more water later adds minimal benefits. On the other hand, diamonds are scarce and valuable. Having one is good, but getting an extra one will bring greater benefits as it increases wealth. Therefore, the marginal consumption of o diamonds has greater benefits than water.

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