List one good or service that your home region specializes

Assignment Help Microeconomics
Reference no: EM131261047

Topic 1: Comparative Advantage, Exchange Rates and International Trade

Globalization is becoming a very important topic in economic discussions. While some politicians favor protectionist policies because they feel these policies protect domestic producers, others claim free trade increases economic activity and has advantages for the country as a whole. Comparative advantage dictates which good or service a particular region specializes in and exports to other regions.

Discussion Checklist:

A. Do you think it is better to source from overseas or should tariffs be in place to protect American industries? Why?

B. List one good or service that your home region specializes in and where it exports this good. Why is your region particularly good at the production of that good or service?

C. What are the impacts of an exchange rate system on exports and imports?

Reference no: EM131261047

Questions Cloud

Explain f.o.b. shipping point and f.o.b. destination : Why do the four inventory costing methods produce different amounts for the cost of ending inventory and cost of goods sold when purchase prices are changing?
Describe the risks and benefits with leading and meeting : If you are pursuing top talent in human capital rich industries (e.g., software engineering), lagging the market may keep you from competing for market share against your competitors.
What is the role of the investment banker : What different institions will be used, and what is the role of each? What is needed for the entity to go public? What is the role of the investment banker? What will potential investors seek? How will financial and capital markets affect the entity'..
Benefits and drawbacks of each preference : In a team, there are some who prefer to take the initiative and others who prefer to be told what to do, what are the benefits and drawbacks of each preference?
List one good or service that your home region specializes : List one good or service that your home region specializes in and where it exports this good. Why is your region particularly good at the production of that good or service?
Provide the education requirements and job functions : Provide the education requirements, job functions, and salary for your chosen medical profession in the chosen country. Describe how these differ from the education requirements, job functions, and salary in the United States.
How does monopolistic competition within a firm reflect : How does monopolistic competition within a firm reflect the circular flow? How would you explain the major features of monopolistic competition compared to pure competition and pure monopoly?
How is cost of goods sold determined : Why are perpetual inventory systems more expensive to operate than periodic inventory systems? What conditions justify the additional cost of a perpetual inventory system?
What is average number of customer waiting to place an order : What is the average time that catalog customers must wait before their calls are transferred to the order clerk?- What is the average number of customers waiting to place an order?

Reviews

Write a Review

Microeconomics Questions & Answers

  Differences among penalties for violation-enforcing agencies

What are the similarities and differences among Title VII of the Civil Rights Act and Executive Order 11246? Make a chart listing similarities and differences among the two including covered employers, penalties for violation, enforcing agencies, and..

  How much does the government receive as tax revenue

The demand curve for gardeners is Ed = 39 - 2w, where E = the number of gardeners, and w = the hourly wage. The supply curve is Es= 4 + 3w. What is the equilibrium wage and equilibrium number of gardeners hired? How much does the government receive a..

  How economics is used as a social science

Explain how economics is used as a social science and as a policy tool and write a two-page essay in which you address the issues.

  Describe the economic outcome of single-price monopoly

Describe the economic outcome of single-price monopoly in terms of profit. Provide one (1) supporting fact to support your response - describe one way that the Futures Unlimited Corporation makes output and price decisions.

  Demand for bicycles

Suppose that oil prices rise sharply for years as a result of a war in the Middle East. Illustrate with a diagram what happens to the:  Demand for automobiles? Demand for home insulation? Demand for coal? Demand for tyres? Demand for bicycles?

  Write the estimated demand equation for predicting

chez henri is a restaurant chain that operates in 40 different cities. it hired an economist to estimate the factors

  Draw the contract curve

Consider an Edge worth box for two people who have a total of 100 X and 100 Y. The person in the lower left corner is named Jeff, and the person in the upper right is named Star burns.

  Formulate a message you leave regarding the economic times

Assume that you are leaving a message in a time capsule to be opened 100 years from now. Formulate a message you leave regarding the economic times of your lifetime and what could have been done to make our economy better.

  Determine the performance of the hospital industry

Determine the performance of the hospital industry

  What is the probability the could occur by chance

According to the "January theory," if the stock market is up for the month of January, it will be up for the year. What is the probability this could occur by chance?

  What factors affected national income

WHAT FACTORS AFFECTED NATIONAL INCOME, UNEMPLOYMEY RATE AND INFLATION RATE WHAT FACTORS EFFECT EACH OF THESE ECONOMIC VARIABLES?

  Why do people move to some cities and away from others

Cities do not reproduce themselves. Why do people move to some cities and away from others You may want to examine why some cities grew from 1990 to 2000, but you need to examine key concepts that underlie urban growth.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd