Answer:
<u>The correct answer is C: producer's surplus increases and total surplus decreases in the market for that good</u>. The tariff translates into higher prices on the imported good, which reduces the quantity demanded. Therefore, the total surplus in the market for that good decreases. <u>Domestic production, in turn, will also expand, meaning an increase in producer's surplus. </u>
Explanation:
A tariff hike increases the price of a particular product, and this reduces the quantity demanded while encouraging domestic producers to increase output. <u>In the short run, however, price levels will be higher overall, </u>as domestic producers won't be able to supply the market at the pre-tariff prices. <u>Higher prices reduce total demand, thus decreasing total surplus in the market, but will also benefit local producers, as demand will shift to domestic production due to higher import prices. </u>
Answer:
Rights are privileges owed by the government body to the people/citizens written into law whilst responsibilities are owed by the people to the society/country.
Answer:
The biggest competitive threat the company will face is the presence of other global large retailers on the territory the supermarket is trying to enter.
Explanation:
Pricing is a major decider on the power of a goods in the economic or market world. This is a big issue when they have been existing market for similar product, this would make the producer consider the prices already available before launching his own product with it's price out there and it is better advised to place a competitive price for a new product entering the market to be able to compete with market out there already and be easily accessed by customers.
So, the biggest threat the new product would have is the existing price in the market and making his competitive.
Every cooperative board of directors is charged with both protecting and utilizing the resources of the cooperative for its members. This simply stated prime directive is far from a simple task.
Balancing the needs of the member with the needs of the cooperative’s balance sheet is a tricky proposition at best. Establishing margins to cover actual costs along with additional net savings that will allow for future growth of services can be difficult, but past performance – together with reasonable expectations and realistic optimism – should drive financial projections.
With the help of the cooperative’s management, boards develop and approve business plans that will meet the organization’s goals. Most planning cycles are conducted annually, creating a budget that anticipates surpluses. New projects offering better services or products are financed along with long-term financing, either with new injections of capital or long-term borrowings. Unrealistic long-term financing projections can seriously interrupt the monthly and daily operations of a cooperative, therefore, understanding how current assets and liability affect the cash to cash cycle is a critical piece of knowledge that any board member needs. Current assets consist of cash, inventories and accounts receivable. Current liabilities include accounts payable for goods and services and the current portion of long or immediate term debt.
