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kari74 [83]
2 years ago
9

As mentioned in the video, the US produces an annual "List of Goods Produced by Child Labor or Forced Labor." How effective do y

ou think this is in raising awareness about working conditions in other countries? Do you think pressure from officials, the media, and the public is the best way to prevent companies from doing business with countries that violate international labor standards, or do you think other methods would be more effective?
Business
1 answer:
lina2011 [118]2 years ago
7 0

Answer and Explanation:

By publishing the "List of Goods Produced by Child Labor or Forced Labor" the American government is able to raise awareness among the population that, although child labor is something inconceivable in American society, it still happens with great intensity in various places around the world. This allows the population to become aware of this situation and to stop buying products produced by companies that finance and allow child labor to happen. When they stop using these products, companies suffer a decrease in demand, which can cause significant changes in the production and in the lives of children who need to work.

While consumer pressure at companies that allow child labor is effective, pressure from political and commercial authorities is more effective in bringing about change and ensuring the protection of children, as these authorities can promote severe punishments for those who allow this to happen.

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Marginal revenue is equal to marginal cost.

A perfectly competitive firm will maximize profits (minimize losses) by producing the level of quantity.

The profit maximize firms will occur at a level of quantity where marginal revenue equals to the marginal cost. It can also maximize its profit when its total cost curve intersects curve. Economic profit is the difference between the total revenues and economic costs.

Perfectly competitive firms are called the price taker firm to maintain and maximize profits. It definitely raise the prize for its profit otherwise it losses all its production in terms of sales. It is generally an atomic market condition intensively depending on ideal price.

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1 year ago
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In the given case, Lawton records transactions in dollars and disregards changes in value of dollars over time. Hence, we can conclude that Lawton is following monetary unit assumption.

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