Explain when the government would impose a subsidy on a market. Discuss some important aspects of the free enterprise system or capitalism. 1) Explain the concept of an externality. 2) Distinguish between a positive externality and a negative externality and give example of ea...
A key point to understand is that a tariff affects the exporting country because consumers in the country that imposed the tariff might shy away from imports due to the price increase. However, if the consumer still chooses the imported product, then the tariff has essentially raised the cost ...
The government can use trade regulations such as tariffs and quotas to restrict trade.Answer and Explanation: Difference between tariff and quota: a.) A tariff is a term used to denote the levy assessed by the government on imp...
Explain why less-developed countries must impose higher tariffs. Why is it important to invest in people for purposes of business and government? Explain the reason for foreign producers agree to quota rather than imposed tariff. Occasionally, a government official will argue...
GREG IP: And certainly, one of the policy responses you’ve seen in the United States, and to some extent other countries, and even prior to this year’s concerns, is taking measures to try and, like, you know, impose tariffs, provide domestic subsidies to industries that we consider imp...
Switzerland represents a model of a Europe that might have evolved if the French Revolution had not succeeded in transforming the European state. It is for this reason that each canton resembles a set of Chinese boxes, or, perhaps better, a beehive into which history has built dozens of ...
government to the needy. Condoms, birth control pills, and other modern contraceptives also didn't exist until they were invented, researched, and mass-produced by greedy capitalist corporations. Now they have become a basic "human right" guaranteed and provided by the government. Vaccines ...
GREG IP: And certainly, one of the policy responses you’ve seen in the United States, and to some extent other countries, and even prior to this year’s concerns, is taking measures to try and, like, you know, impose tariffs, provide domestic subsidies to industries that we consider imp...
Why don't governments put a price ceiling on goods instead of a minimum wage? Why might consumers not prefer a lower price ceiling price (say of $5) to a higher equilibrium price of $8? Why do most economists oppose attempts to control prices? ...