Business Management questions and answers

1. Distinguish between an implicit gain and a relative receipts. Cite an example of a res publica that has an absolute advantage and one with a comparative advantage. Absolute advantage is when a monopoly exists in a dry land when it is the only source and hark back of an item. Meanwhile, a comparative advantage is when a country post supply products more efficiently and at a set about cost than it faeces produce other items. South Africa has an absolute advantage because of its diamonds. The United States has a comparative advantage because of the umpteen products we produce. 3. What effect does devaluation have on a nation?s currency? Can you think of a country that has devaluated or revaluated its currency? What have been the results?Devaluation decreases the value of currency in conjunction to other currencies. Mexico is a country that has devalued their currency. The result of this is to sink in things less expensive. 4. How do political issues affect interna tional care?Political issues affect international business by it helps to supplant products overseas. 5. What is an import tariff? A quota? Dumping? How might a country use import tariffs and quotas to control its balance of come up to and payments? Why basis dumping result in the tussle of tariffs and quotas?

An import tariff is a tax made by the nation on goods imported into the country. A quota limits the amount of products that crapper be imported into a country. Dumping is a country selling products at less than what it costs to produce them. A country uses import tariffs to protect domestic products by efflorescence the price of imported ones.! A country uses quotas by non-paying agreement or by government decree. Dumping base result in the imposition of tariffs and quotas because it permits quick entry into the marketplace store or a... If you want to get a bountiful essay, coif it on our website: OrderCustomPaper.com

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