What is the issue discussed in the visual media item

Assignment Help Microeconomics
Reference no: EM13921801

Evaluating Trade Issues

Now that you are familiar with trade barriers and the reasons they may or may not be used, it is time to evaluate a trade issue for yourself. You will read and analyze two images related to trade. Then you will take a stand on the issue. Use this template to organize your responses.

Steps:

Choose two different visual media items that express opinions about trade agreements, barriers to trade or free trade. Theresource listprovides some examples of visual media and guidance on where to locate them on the Internet. Be sure to include the media item, or directions on how to access it, with your assessment. Make a note of the key events and ideas evident in the item, the creator and date of origin, and be sure to read any captions or quotes that are included.

Analyze the message delivered by each of your visual media items. Foreachitem, respond to the following questions in complete sentences. Cite evidence from the resource and the lesson to justify your responses.

What is the issue discussed in the visual media item you chose?

What is the creator's viewpoint on the issue? What details in the resource support the author's claim? Provide evidence from the item to support your response.

Does this viewpoint reflect a commitment to free trade or to protectionism?

Explain your answer and include evidence from the item to support your response.

Do you agree or disagree with the viewpoint of the item you chose? Why or why not?

Respond to the following reflection questions based on your understanding of free trade and protectionism.

What are two benefits and two costs of free trade?

What is protectionism and why would a country base trade policy on it? Explain at least two reasons.

Reference no: EM13921801

Questions Cloud

Approach to the study of decision making : The decision theory processes of maximizing expected monetary value (EMV) and minimizing expected opportunity loss (EOL) should lead us to choose the same alternatives
Compare and contrast leadershilp styles : Leadership is improtant in shaphig the culture of an organization. With regard to this, compare and contrast leadershilp styles - Demonstrate competence in the use of written and oral communication skills using a range of techniques and technology.
Lesley used the effective interest rate method : What item(s) in the table would appear on the 2016 statement of cash flows?
Find the revenue maximizing output and price : Find the revenue maximizing output and price. Calculate the total revenue. Is this outcome on the elastic, inelastic, or unitary elastic part of the demand curve?
What is the issue discussed in the visual media item : What is the creator's viewpoint on the issue? What details in the resource support the author's claim? Provide evidence from the item to support your response.
Intensive production process : Lacy Dalton had just been appointed CFO of Garland & Wreath when she received some interesting reports about the profitability of the company’s three most important product lines. One of the products, GW1, was produced in a very labor- intensive prod..
Diameters of mature pine and spruce trees : A field researcher is gathering data on the trunk diameters of mature pine and spruce trees in a certain area.  The following are the results of his random sampling.  Can he conclude, at the 0.10 level of significance, that the average trunk diame..
Calculate the point elasticities for price and income : The BJC Company has the following demand function: Calculate the point elasticities for price and income. Is the product a normal or an inferior good?
What will happen to revenue if the company raises its price : Is demand elastic or inelastic? What will happen to revenue if the company raises its price?

Reviews

Write a Review

Microeconomics Questions & Answers

  The free rider problem

Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.

  Failure of the super committee is good thing for economy

Some commentators have argued that the failure of the “Super committee” is good thing for the economy?  Do you agree?

  Case study analysis about optimum resource allocation

Case study analysis about optimum resource allocation: -  Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..

  Fixed cost and vairiable cost

Questions:  :   Which of the following are likely to be fixed costs and which variable costs for a chocolate factory over the course of a month?  Explain your choice.

  Problem - total cost, average cost, marginal cost

Problem - Total Cost, Average Cost, Marginal Cost: -  Complete the following table of costs for a firm.  (Note: enter the figures in the  MC   column  between  outputs of  0 and 1, 1 and 2, 2 and 3, etc.)

  Oligopoly and demand curve problem

Problem based on Oligopoly and demand curve,  Draw and explain the demand curve facing each firm, and given this demand curve, does this mean that firms in the jeans industry do or do not compete against one another?

  Impact of external costs on resource allocation

Explain the impact of external costs and external benefits on resource allocation;  Why are public goods not produced in sufficient quantities by private markets?  Which of the following are examples of public goods (or services)? Delete the incorrec..

  Shifts in demand and movements along the demand curve

Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..

  Article review question

Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:

  Long-term growth, international trade & globalization

Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..

  European monetary union (emu) in crisis

"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

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