In many of the examples of specialization and trade it sometimes seems that one country is?
It is getting favored more ideal arrangement over another, but we have near the no experience with the overall thriving created by the trade or prosperity produced by the exchange.
Specialization is a technique for creation by which an element centre around the development of a restricted extent of merchandise to acquire a more prominent level of effectiveness. Numerous nations, for instance, spend significant time in creating the labor and products that are local to their region of the planet, and they exchange them for different labor and products.
To learn more about specialization enable countries to trade with one to another country
brainly.com/question/7298572
#SPJ4
Answer:
Economic integration agreement is when countries within a particular geographical area decide to remove or relax tariff or non-tariff barriers to trade between themselves and also to coordinate and harmonize their fiscal and economic policies. Free trade area is the simplest form of an economic integration; it is when governments of member countries agree to remove trade restriction between each other and when member countries are given the freedom to determine their own external trade policies towards non-members.
Supporters of free trade area argue that it is beneficial to the country based on the trade creation argument. Trade creation is where high-cost domestic production is replaced by more efficiently produced imports from within the group; that is, more expensive domestic products are replaced by lower priced imports from countries within the group. The trade creation argument is hinged on the fact that a free trade area ensures that trade is generated over and above what would otherwise have happened if there was no integration. Further, the removal of tariffs allows members to specialize in those products for which they have a comparative advantage leading to a variety of cheap imports for domestic consumers, thereby increasing living standards or welfare gains. Trade creation also creates an incentive for high cost domestic producers to cut cost so as to remain competitive thereby enhancing efficiency.
On the other hand, a free trade area is criticized on the basis of trade diversion. This is where trade with a low-cost country outside the group is influenced by higher–cost products supplied from within the group; this results in a less efficient allocation of resources as trade from outside the group is replaced by trade from within the group. Trade diversion could mean that local consumers would have to buy products at less competitive prices. Another argument would be that a free trade area would lead to a removal of tariff between member countries thereby resulting in a cessation of government revenue from tariffs. As opposed to a free trade area, free trade would increase world output and employment, raise quality and lower prices of goods as firms have access to factor inputs; it will also increase world living standards or enhances welfare gains. A free trade agreement only restricts these potential advantages to a particular geographical space.
Explanation:
Answer:
C. Internal search
Explanation:
The situation in which a consumer or an individual refers to his own memory or recollection for a product, where the individual selects from alternative options from his or her memory is known as Internal search. In this scenario, given his personal experience with personal computers and consumer electronic devices, Bob is able to refer to his own memory for various brand options he feels is the best and want to purchase from.
Answer:
An employee has an average wage of $60,000 and has worked for the firm for 28 years. The defined benefit pension plan pays retirees 2.3% of the average wage times the years of service. The employee can expect to receive __$1,380_____ per year upon retirement.
Explanation:
a) Data and Calculations:
Average wage = $60,000
Number of years worked in the firm = 28 years
Defined benefit pension plan rate = 2.3%
Annual defined benefit pension plan = $1,380 ($60,000 * 2.3%)
Total benefit to be received = $38,640 ($1,380*28) or ($60,000 *28 * 2.3%).
b) This employee is expected to receive the total benefit of $38,640 for serving the firm for 28 long years under the defined pension plan, given the plan rate of 2.3% of the average wage.
Answer:
The following are 3 against reasons for the reconstruction of Greensburg as the "green city":
Explanation:
Following are the reasons and the counter reasons:
Reasons:
- Its tornado was something which will never be large as ever before, in which the city has been harmed and 95% of his residences have been destroyed. It also offers you to recreate the green city.
- The creation of a green city would also enable many cities to the devastated area to integrate with green technology.
- The Greenburg would become an icon with style as well as a prototype for the building of a clean energy city.
Counter Reason:
- The green tech isn't cheap and it would put pressure on the public resources.
- When a tornado of the same size hit Greenburg, then nobody would cause a serious source of financial and private assets.
- The city should give priority to tornado refugee camps that are capable of protecting public goods instead of building a green culture.
