Reference no: EM133214381

1. How does a concentrated industry develop from its starting conditions to produce at economies of scale? What are two causes why top-down attempts at building industries that produce at economies of scale will inevitably collapse? Why do you think business and political leaders are tempted by such top-down economic development plans?

2. What is an import quota and how does it work? What does the import quota allow a government to do? How can an import quota system become corrupt?

3. The government of the planet Zanak suspects that businesses on Mondas are dumping wearable tech products on their markets. What effects on the price of wearable tech on Zanak would Galactic Trade Organization investigators look for as evidence of dumping? What are the two price comparison methods that investigators might use to figure out what prices Zanakians should be paying? Why are those methods effective?

4.What is Export-Oriented Industrialization? What is the importance of an economy's current comparative advantages to guide an EOI strategy? Why does this approach to post-colonial industrial development tend to work better than ISI?

5. Explain the two kinds of destructive economic effects of high tariffs? How could tariffs harm the industries that they are supposed to protect?