Answer:
The effective rate of protection for Canada’s steel industry is 21%
Explanation:
The computation of the effective rate is shown below:
Steel percentage = (Production worth of steel) ÷ (Taconite worth)
= ($1,000,000) ÷ ($100,000)
= 10%
And the tariff rate for steel is 20%
And the taconite percentage is 10%
So, the effective rate would be equal to
= Tariff rate for steel + taconite percentage × steel percentage
= 20% + 10% × 10%
= 20% + 1%
= 21%
Answer:
Explanation:
Product Line
A product line represents related products under a single brand name produced, grouped and sold by the same company. Organisations use product lines to keep and expand their consumer base by adding products that will appeal to their customers in the same line of products which they are familiar with.
A consumer will always be motivated to buy a complete kit of products in a product line to take care of similar issues such as skin care, face care among others rather than buying different products from different brands to make up a complete kit.
Most product lines are marketed in groups and are placed together to appeal to customers. Specifically, organisations know that consumers will be willing to test new products that are part of the same product line they have known and are used to.
Answer:
B. what businesses believe will generate the most profits.
Explanation:
A market economy is one where the factors of production are owned by the private sector. Production and distribution of products and services are in the hands of private individuals and firms. The government's role is mostly regulation and the provision of public goods.
In the market economy, the private sector engages in business to make profits. They risk their resources in producing goods and services that can increase their wealth. Only the products that are likely to generate profits are produced.
