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Match the items of List - II with List - I to identify the correct code which are related to legal forces affecting international marketers.

List - I List - II
(a) Tariff (i) A regulation specifying the proportion of a finished
product’s components and labour that must be provided
by importing country.
(b) Import Quota (ii) Tax imposed on product entering a country and used to
protect domestic producers and/or raise revenue.
(c) Local-content Law (iii) A requirement that a product contain or exclude certain
ingredients or that it be tested and certified as meeting
certain restrictive standards.
(d) Local-operating Law (iv) Limiting amount of a particular product that can be
brought into a country, to protect domestic industry or
broadening access to its markets.
(e) Standards and Certification (v) A refusal to buy products from a particular company or
 country
(f) Boycott (vi) A constraint on how, when or where retailing can be
conducted

 

This question was previously asked in
UGC Paper 2: Commerce July 2018
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  1. (a) - (iii), (b) - (iv), (c) - (ii), (d) - (i), (e) - (vi), (f) - (v)
  2. (a) - (vi), (b) - (ii), (c) - (i), (d) - (iv), (e) - (iii), (f) - (v)
  3. (a) - (ii), (b) - (iv), (c) - (i), (d) - (vi), (e) - (iii), (f) - (v)
  4. (a) - (iv), (b) - (vi), (c) - (i), (d) - (ii), (e) - (iii), (f) - (v)

Answer (Detailed Solution Below)

Option 3 : (a) - (ii), (b) - (iv), (c) - (i), (d) - (vi), (e) - (iii), (f) - (v)
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Detailed Solution

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Legal factors are external factors that refer to how the law affects the way businesses operate on national or international markets and customers behave.

quesImage56

Concept Meaning
(a) Tariff
  • A tax imposed on products entering a country and used to protect domestic producers and/or raise revenue.
(b) Import Quota
  • Limiting the amount of a particular product that can be brought into a country, to protect the domestic industry or broadening access to its markets.
(c) Local-content Law
  • A regulation specifying the proportion of a finished product’s components and labour that must be provided by the importing country.
(d) Local-operating Law
  • A constraint on how, when or where retailing can be conducted.
(e) Standards and Certification
  • A requirement that a product contains or exclude certain ingredients or that it be tested and certified as meeting certain restrictive standards.
(f) Boycott
  • A refusal to buy products from a particular company or country.

Therefore, we can conclude that option 3) is the correct answer.

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