Answered: Explain why tariff, quotas, exchange…

Principles Of Marketing

17th Edition

ISBN:9780134492513

Author:Kotler, Philip, Armstrong, Gary (gary M.)

Publisher:Kotler, Philip, Armstrong, Gary (gary M.)

Chapter1: Marketing: Creating Customer Value And Engagement

Section: Chapter Questions

Problem 1.1DQ

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Explain why tariff, quotas, exchange control, and trade agreements are government actions that we should be concerned about as we evaluate a country?

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INTRODUCTION -

Tariff, quotas, exchange control, and trade agreements are government actions that profoundly affect the global economy. Governments use these instruments to protect their own industries and services, to promote their own economic development, and to regulate the supply and demand of goods and services in the international market. As such, they have the potential to create both positive and negative impacts on the global economy, and should be analyzed carefully to ensure the best possible outcome.

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