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Which of the following constitute non-tariff barriers to trade?
Answer : B, D
Non-tariff barriers are restraints on international trade which are not so obvious as simple duties or tariffs. Complex procedures can slow things down, reducing the incentive to export to that country resulting in protected domestic business; subsidies to one's own producers make it more difficult for foreign firms to compete - again creating a barrier to trade.
Increased import duties would be a form of tariff (potentially in breach of GATT / WTO agree-ments); reduced import duties would free up / encourage trade.
'In the not-for-profit sector, funding often comes from those who do not benefit directly from the service provision.' True or false?
Answer : B
In the not-for-profit sector, funding often comes from external sources or donors. The beneficiaries of the services are often beneficiaries of services because they don't have funds eg the homeless, the poor, the sick, etc
Thus in this sector, the 'paymaster' is often separated from the recipient of services provided, which has implications for the management of such organisations.
Which is the priority? The one providing funding; or the one receiving the services?
Sources of finance for a private sector entity primarily include (select all that apply):
Answer : B, C, D
Sources of funds for private sector commonly include revenues from sales, shareholders and long-term loans. Taxpayers would not normally be thought of as a source of funds for private sector, alt-hough in recent Coronavirus times, in some countries, such as the UK, businesses have received considerable support. But that is abnormal.
Short-term sources such as overdrafts are not to be relied upon on a regular or long-term basis.
Which of the following would often be subject to health and safety legislation?
Answer : A, B, C, D
All answers are correct. Each of these areas can create safety hazards for people in the workplace, and so in many countries government legislation has been passed to make these topics subject to regulation.
For example, within the UK, it is mandatory for employers to provide compulsory training for em-ployees who may be involved in lifting heavy items, and there are limits placed on the weight which can be handled by any one person. In many cases, mechanised lifting equipment is used to aid or replace humans.
The letters 'MNC' stand for:
Answer : B
'Multi-national corporation' is the correct answer. Very large international organisations, with very large turnover, purchasing power and influence. Examples would include: Alphabet, Amazon, Ap-ple, Dell, Ford, Shell, Toyota, etc
