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XHome-wichita.edu xTake Test: Quiz 6-Internation x+ https:/blackboard.wichita.edu/webapps/assessment/take/launch.jsp?course assessment id- 77962 1&course i QUESTION 1 Which of the following is prompting fhemers in many developed natioes to discover new ways to manage risk and increase agricultural etficieney? designation of sgricultural products as dual use products rovisioe of extensive grvernmen absides exposure of agrnbusiness to market forces enforcement of trade embargoes and tariffs QUESTION 2 Which of the following is a result of the protection of domestic companies from international competition? o Compenics become relaniion Protection increases a company's incetives to obtain the knowledge it sceds to becose more competitive. There are increased incentives to out production costs and improve quality. Consumers pay less for products QUESTION 3 Which of the following statements is true of embargoes? o An embargo may be plsced on se or a few goods or may completely ban trade in all goods Embargocs are used froquently today because they are easy so implement O An embargo is usaly employed Sor aconomic reasons QUESTION Which of the following is a method of resericting tradc? foreign trade zoes expert Enancing local coesent requirements QUESTION S Which of the fellowing is the main cultural motive behind goversment intervension in trade? 0 premotion of strategio trade policia of jobs industries from 4,430 25Explanation / Answer
1. C. Exposure of agri business to market forces.
Exposure of agribusiness to market forces mean adjusting or finding new ways as per the changing taste of the customer. By allowing such exposure, farmers can know new ways of growing business and choose the right mix of products to be grown.
2. A. Companies become more reliant on protection.
Domestic companies become heavily reliant on protection offered by government from international companies since they know they won't be able to take on international companies on their own.
3. A. An embargo may be placed on one or few goods or may completely ban trade in all goods.
Option A is apt and defines embargo in the best way. Embargo is a ban on goods or trade of goods Which may involve prohibiting commercial activity in a country.
4. D. Local content requirements.
Local content requirements means companies have to source certain proportion of goods they use from domestic producers. It can act as restriction.
5. B. Protection of national identity.
From a cultural prespective, intervention in trade is done to save the identity of the nation which happens to be the producers of the nation. Government try to protect them by intervening.
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