Describe North American Free Trade Agreement
Describe North American Free Trade Agreement (NAFTA)?
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1. This free-trade zone was established in 1993 among Canada, U.S. and Mexico with about the same combined output as EU, but a larger geographical area.
2. Free trade with Mexico was controversial because critics fear a loss of American jobs as firms can move to Mexico more easily. Also, they fear Japanese and South Korean firms will build plants there and import goods duty-free to U.S.
3. The increased trade has increased domestic employment, reduced unemployment, and increased the standard of living in all three countries.
Write down the importance of Earnings per share?
When Gene can make three pairs of cowboy boots per week or one saddle whereas Roy can make either two pairs of boots or two saddles, Gene will form boots whereas Roy makes saddles according to the: (i) Law of Occam’s Razor. (ii) Principle of comparative advantag
Contrast how a market system and a command economy try to cope with economic scarcity?
A perfectly competitive industry achieves allocative efficiency since: w) goods and services are produced at the lowest possible cost. x) services and goods are produced up to the point where the last unit gives a marginal benefit to consumers equivalent to the margin
Elucidate Reliance on technology and capital goods of the market system?
After agonizing regarding whether to buy a hot dog or a hamburger along with his last dollar while he goes to the fair, Jeeter at last chooses the hot dog. The hamburger shows Jeeter's: (i) normative choice, because it would be more nutritious. (ii) opportunity cost o
Question: If a government pegs the value of its currency to another currency, the government must stand ready to i. _________________________ the "hard" currency to defend the pegged value of its own currency. ii.
Explain about Market Structures briefly.
Illustrate the 2nd function to promote and maintain competition?
Explain the Market System Specialization?
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