Tendency for farmers like this to increase their production

Assignment Help Business Economics
Reference no: EM131005448

Independent farmers in Kenya would grow coffee which they would roast and consume as a much-needed beverage. Show the circuit of production for this way of getting something to drink with breakfast. How is this circuit changed if the farmers exchange some for what they produce for Coca Cola? Show the circuit of production if farmers sell some produce for money which they use to buy Coke. Is there a tendency for farmers like this to increase their production? b. British authorities wanted Africans to produce more coffee for British coffee companies who hire British workers to roast the coffee for sale in cafes throughout the world. They imposed taxes that had to be paid in currency. Show how this changed the circuit of production for Kenyan farmers and the market for British labor. c. British coffee companies used profits from selling Kenyan-grown coffee to buy opium in India to sell in China in exchange for Chinese silk for sale in Britain for money that they use to buy more Kenyan coffee and to hire workers to roast the coffee. Show the circuit of production for the British coffee companies. d. (1 point) Indian opium is addictive and the Chinese authorities ban its sale. What happens to the market for Kenyan coffee and for British labor? If the British persuade the Chinese to allow the sale of addictive opium, use the circuit of production to show the effect on the markets for opium, silk, coffee, and British labor.

Reference no: EM131005448

Questions Cloud

Several units of a homogeneous product as a single package : A monopoly is considering selling several units of a homogeneous product as a single package. A typical consumer’s demand for the product is Qd = 80 – .5P, and the marginal cost of production is $100. a. Determine the optimal number of units to put i..
Based on the best available econometric estimates : Based on the best available econometric estimates, the market elasticity of demand for your firm’s product is -2. The marginal cost of producing the product is constant at $200, while average total cost at current production levels is $260. Determine..
Significant discussions on the governments fiscal policy : There have been significant discussions on the government's fiscal policy during the Great Recession. In particular, many did not like the government's actions in salvaging the auto industry in providing guaranteed loans to GM and Chrysler. What is y..
What kinds of cognitive errors contributed : Explain and comment on any factors related to organizational culture and innovation within Mattel's setting that might have influenced the company in a more positive direction.
Tendency for farmers like this to increase their production : Independent farmers in Kenya would grow coffee which they would roast and consume as a much-needed beverage. Show the circuit of production for this way of getting something to drink with breakfast. How is this circuit changed if the farmers exchange..
What would be the pretax amounts related to the lease : What would be the pretax amounts related to the lease that the lessor would report in its income statement for the year ended December 31?
What role does the business play in society : Examine and critique one or two aspects of the companys social performance with regards to fulfilling society's expectations on how the company should operate its business.
The long run an increase in national saving : Complete the following table by indicating whether each variable will rise, fall, or remain unchanged (NC) in the long run following an increase in national saving S. You don’t need to draw any graphs or give any explanations, but feel free to use th..
Manning imports is contemplating an agreement to lease : Manning Imports is contemplating an agreement to lease equipment to a customer for five years, the asset's estimated useful life. Manning normally sells the asset for a cash price of $100,000.

Reviews

Write a Review

Business Economics Questions & Answers

  Organization of petroleum exporting countries

Amalgamate the information you have gathered and tell the economic consulting firm which actions you think OPEC will take over the next year based on your answers.

  Marginal utility is cumulation or summation of total utility

The Law of Supply suggests that the price-elasticity of supply is: If a 10 percent increase in the price of one good results in no change in the quantity demanded of another good, then it can be concluded that the two goods are: Marginal utility is t..

  What can you infer about expected change in exchange rate

What can you infer about expected change in the exchange rate between the Canadian dollar and the U.S. dollar? A friend proposes a get-rich-quick scheme.

  Find the equilibrium price-quantity and revenue in market

Betty can make either “12 bottles of wine and 0 boxes of chocolates” or “0 bottles of wine and 96 boxes of chocolates” or a combination of wine and chocolates. Find the equilibrium price (P), quantity (Q), and revenue in a market characterized by the..

  Imagine a firm in monopolistic competition

Imagine a firm in monopolistic competition. A firm in monopolistic competition produces a product that you are familiar with, such as clothing and food. Use the cost and revenue curves for your market with monopolistic competition to determine price,..

  Find the output level for highland commodities

A typical firm in a perfectly competitive market has a cost structure described by the equation: C = 25 − 4QF + Q2F where QF is measured in thousands of units. Using the profit-maximizing condition, P = MC, write an equation for the firm’s supply cur..

  Illustrate what role do fiscal and monetary policies

Illustrate what role do fiscal and monetary policies have to lead to higher or lower budget deficits.

  Show the quantity of domestic production of apples

Initially Country A imports apples because the world price (PW, blue) is below the price that would apply (PA), in the absence of trade, in A; illustrated in diagram 1. Consumer and producer surplus are shaded in green and yellow respectively. show t..

  About the nature of the global economic system

What is NIEO (pp. 130-137)? What major demands did the Third World countries put forward? Are these demands reasonable? What major forces have shaped the development process for LDCs? How do these forces create tensions between the South and the Nort..

  What is the amount of money the local bank can lend

Meagan deposits $750 from her piggy bank into her checking account at Regions National Bank. The reserve requirement is 10% and the bank has no excess reserves. What is the immediate effect on the M1 measure of the money supply of her deposit? Explai..

  Real wages produce about same pace as labor productivity

Over the long run historically, real wages produce about same pace as labor productivity.

  Examine the level of business activities

Examine the level of business activities in the U.S. economy over the past few months. Which trends do you find of interest? What stage of the Business Cycle is the U.S. economy, given the current levels of business activity? Use current data

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