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- Question 4 Productivity can be increased by Your answer: raising union wages. restricting trade with foreign countries. improving the education of workers. none of these answers raising minimum wages. Clear answer Back NextSome less-developed nations are unable to devote resources to various research and development projects. Attempting to increase their economic growth, sometimes they acquire pharmaceutical or technological goods and reverse engineer them to determine how they’re made, then sell them in domestic markets. Is it ethical and/or necessary to produce and sell a product without having developed it and not having a patent for the product? What could be the short run and long run consequences of such an action?Question 8 In the United States, the average worker is more productive than workers in many other nations due, in part, to: A increases in international trade. B increases in cost. © high levels of physical capital. increases in productivity.
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- Listed below are several possible actions by firms. Write “INV” beside those that reflect invention, “INN” beside those that reflect innovation, and “DIF” beside those that reflect diffusion.a. An auto manufacturer adds “heated seats” as a standard feature in its luxury cars to keep pace with a rival firm whose luxury cars already have this feature.b. A television production company pioneers the first music video channel.c. A firm develops and patents a working model of a self-erasing whiteboard for classrooms.d. A lightbulb firm is the first to produce and market lighting fixtures with halogen lamps.e. A rival toy maker introduces a new Jenny doll to compete with Mattel’s Barbie doll.One of the following phenomena has been inaccurately described. Which one is it? a. Offshore outsourcing is both an example of an contributes to the globalization of business. b.A deep-seated cultural preference for having boy babies no longer affects the cultural landscape of South Asia. c. The negative consequences of the Green Revolution are somewhat mitigated by agroecology. d.The Grameen Bank has offered microcredit loans to many poor people, enabling them to work themselves out of poverty.Question 11. Labour intensive technique is chosen in a (a) Labour surplus economy. (b) Capital surplus economy. (c) Developed economy. (d) Developing economy.
- The local agriculture industry in Trinidad and Tobago has been declining for much of the past 30 years. Several initiatives were launched to tackle the main issues that farmers face (labour shortage, capital, thief, infrastructure, water, etc) and many have failed. Today the sector contributes about 1% to total GDP and we import over 75% of our food. However, we have a few bright spots in agriculture (primary)—poultry, egg, pineapples, water melons, paw paw and pig production—we are almost self-sufficient. 1. If you were asked to use the blue ocean strategy to tackle the issues outlined above, can you describe a new way to deal with those problems (best to choose one problem) by proposing a new start-up? How will it work differently from the current model that farmers use? (Please focus on production of commodities NOT retail or wholesale) (150 words) Make sure you are suggesting your new company can deal with one (though not all) of the issues.2. Multinational companies (MNC) engaging in technological transfer may lead to gains elsewhere in the economy as (i) workers trained by the MNC move to other parts of the economy. (ii) the MNC takes market share from inefficient local companies. (iii) other companies in the host county may be encouraged to use their methods. Which are of the above statements is/are correct? Only (i) is correct Only (ii) is correct Both (i) and (iii) are correct Both (i) and (ii) are correct Only (iii) is correct1. What is the meaning of National Industrialization? 2. Give at least three examples of the main industries that the Philippines has. (No need to explain.)
