occurs when a company exports to a foreign market at a price that is either lower than the domestic prices in that country or less than the cost of production.
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occurs when a company exports to a foreign market at a price that is either lower than the domestic prices in that country or less than the cost of production.
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- Quotas may be set on worldwide imports or on imports from a specific country.True or FalseExport marketing is the integrated marketing of goods and services that are destined for customers in international markets. What does the marketing require?Exporting countries Which of the following will be true, everything else remaining constant, for a country that exports some good? a)The greater the price elasticity of supply for the good in the exporting country, the greater the volume of exports. b) The more that consumers in the exporting country respond to a change in price, the greater will be the gains from trade. b) The smaller the price elasticity of demand and supply in the exporting country, the greater the gains from trade. c) Some domestic suppliers will lose surplus while others will gain surplus. Choose the statements that match the question and briefly explain your reasoning to understand the question better. Thankyou.
- An import Tariff does: Increase domestic consumption Decrease domestic production Decrease domestic prices Increase government revenueGovernment standards for products sold in the domestic market can have the effect of protecting domestic producers from foreign competition. True FalseA tariff is: A tax on exported goods. A source of revenue to the exporting nation. A tax on imported goods. A tax on foreign property. A form of quota.
- The country imposes a 50% tariff. Complete the following: Price Quantity Demanded Domestically Quantity Supplied Domestically Import/Export Quantity Imported/Exported Tariff RevenueFor a large country import tariffs will yield a price increase for domestic consumer that is A higher than the tariff itself B equal to the tariff itself C smaller than the tariff itselfWhich of the following might be considered a cost to protecting domestic jobs in the steel producing industry by blocking steel imports? Less consumer surplus for those who use products made of domestic steel Fewer jobs in industries that use steel Higher prices of steel for domestic industries that use steel All of these might be considered costs
