One argument for is that exports help improve the terms of trade of a country and also opens markets for domestic producers, meaning they can grow, employ more workers, earn more income, etc. Another argument for is that it increases competition, as there are goods coming in from all corners of the world, which may pressure domestic pressures to be more competitive and innovative with their products, improving its quality and product choice.
An argument for protectionism could be that imports may actually be harming domestic producers, which as we can see from President Trump's rhetoric, we can deduce that cheap imports from China will take sales revenue away from American producers and potentially cause them to lose customers and close down. Another argument for is that quotas and tariffs will make imports more expensive, which may make domestic products more price competitive.
Regarding the opinions, come up with it yourself. Think of the pros and cons and make a balanced judgement.
The answer is true. The percentage change in quantity supplied as a result of a specific percentage change in the commodity's own price is known as price elasticity of supply.
It is determined by dividing the percentage change in the quantity delivered by the percentage change in the commodity's price. These factors impact the price elasticity of supply: Number of producers: simplicity of entrance. Spare capacity: If there is a change in demand, it is simple to expand production. Switching is simple when production of the good may be changed, making the supply more elastic. The availability of non-essential items like soft drinks.
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In deciding on a legal form of organization, you should ask yourself how many employees will you hire.
<h3>What is an organization?</h3>
An organization refers to an organized group of people with a particular purpose such as any business or government department.
When deciding on a legal form of organization, you should ask yourself all of the following questions except how many employees will you hire.
Therefore, C is the correct option.
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A bilateral is a formal agreement between two or more governments!
The transaction for the bill for newspaper advertising services will be recorded today as a debit to Advertising Expenses and a credit to Accounts Payable (Advertising Payable).
<h3>How is an accrued expense recorded?</h3>
An accrued expense refers to an incurred outgoing that the service has been enjoyed previously and payment is due later.
According to the matching principle and accrual concept of generally accepted accounting principles, all expenses incurred within a financial period must be recognized in that period whether cash has been exchanged or not.
Thus, the transaction for the bill for newspaper advertising services will be recorded today as a debit to Advertising Expenses and a credit to Accounts Payable (Advertising Payable).
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