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Embargoes, Quotas, And Standards Are Tools That Countries Use

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Embargoes, Quotas, And Standards Are Tools That Countries Use

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Embargoes, quotas, and standards are tools that countries use a. to reduce exports punish other countries c. to restrict imports d. to raise prices of domestic goods.


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Embargoes, quotas, and standards are tools that countries use

Embargoes, quotas, and standards are tools that countries use – Question: Embargoes, quotas, and standards are tools that countries use. Answers Mine. US. Ask your question Login with google. Search. adminstaff. 28/07/2019 04:13 AM. English. 1 Answers. Embargoes, quotas, and standards are tools that countries use. LOGIN TO VIEW ANSWER. Do you know the better answer! Submit your answer. Related Questions inEmbargoes, quotas, and standards are tools that countries use. to restrict imports. When it spends money on education, a government is trying to. The higher a country's gross domestic product (GDP) is developed. If expansionary taxation policies are left unchecked, which is the most likely result?An embargo is seen as a vital tool that can influence a nation in many ways. If a country is allowed to trade goods with other countries around the world, it will have a positive impact on the country's economy but if a country can no longer transact business with another easily, the outcome would be very disastrous.

economics – Learning tools & flashcards, for free | Quizlet – Countries subject to arms embargo, trade sanctions and other trade restrictions This list details specific countries where arms embargo, trade sanctions and other trade restrictions have been imposed."US Trade Embargoes — Are They Effective Tools to Promote Change?" by Andrea Klestadt . Trade embargoes, government orders prohibiting trade with specific countries, have been used in attempts to induce changes in government policies of other countries as early as 432 B.C., when the Athenian leader, Pericles, imposed the first recorded sanctions on Megara for violations of sacred landTariffs – Taxes imposed on goods imported from another country. Quotas – A limit on how many goods can be either imported from another country or sent to that country. Embargoes – A trade…

economics - Learning tools & flashcards, for free | Quizlet

Which type of trade barrier is explicitly used for – Non-Tariff Barriers to Trade are used to restrict the amount of imports. Annual quantity or value limits for certain goods are determined. China Import Quotas are limited to a few countries & products. A tariff-rate quota is similar since duties for goods increase after a certain amount. Tariffs and quotas are similar.Embargoes, quotas, and standards are tools that countries use Weegy: Embargoes, quotas, and standards are tools that countries use with the aim of maintaining or restoring international peace and security.Embargoes, quotas, and standards are tools that countries use to punish other countries. Gross domestic product (GDP) is the value of goods and services produced in a country annually. It can best be described as measuring an economy's

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Chapter 4

GBUS5: Chapter 3 Part A – Chapter 3: Exploring Global Business.
In this chapter, we'll take a look at the economic basis for international business, some of the forms it might take, the arguments in favor of international trade, a couple of arguments against, forms of protectionism that currently exists in some institutions that can help firms that are interested international business. So I'd like to share with you one of the slides that I saw during the Pulse of the Port which was a gathering of port of LA and Long Beach folks along with exporters that recently took place in Long Beach. And as you'll notice there's some real concern right now over whether or not the current administration supports international business, based largely on some of the things they've said. And by international business, I mean all activities, exchanges that cross national boundaries. The foundational argument in favor of international trade is absolute advantage which was first put forth in the late 1700s by Adam Smith who argued that a country that is better at something than another country should focus on that Batum and then trade for the item that they're not as good at. After Adam Smith advanced his theory, David Ricardo refined it a bit and he said you know what a country doesn't necessarily have to be the best at something for it to make sense for them to focus on that. What they really need to focus on is what they're relatively better at and this is the idea of comparative advantage that it makes sense if a country is better at one product versus another not necessarily compared to another country but within themselves in terms of product they should focus on that product that they're relatively better at and trade for the product that they're relatively not so good at and then both countries will end up with more. And there's a really good clip I'm going to put a link to a clip that explains this in kind of a cute manner using Gilligan's Island as an analogy. And it makes a lot of sense. It really does. So most of international business is in terms trade and that is exporting and importing. Exporting is producing a product and then sending it to other countries for use and consumption. Importing is the reverse of that. It is bringing products into a country from another country and as you can see the United States and especially our state California is highly reliant on exports. However, let's look at the balance of trade. The balance of trade is exports minus imports and let me stop for a minute and ask you what you assume about the U.S. balance of trade. Is it positive or negative? And if you're not sure you can take a trip down to your neighborhood Walmart and check some of the labels. It'll quickly become clear to you that we have a very very negative balance of trade meaning we import far more than we export. The negative balance of trade may be an issue in that most of the balance of payments which is money flowing into a country versus money flowing out is comprised of the balance of trade. However, let's look at some arguments in favor of international business and specifically as you said a minute ago looking at absolute and comparative advantage it quickly becomes clear that it makes sense for a country to focus on what they're relatively better at. If they do that, if they do have free and open trade they have more items available at lower prices, there's more consumer choice. So international business can take a number of different forms. If you look at this list it starts with those that require the lowest level of commitment and capital upfront to those that require the most. So licensing is a contractual agreement where a firm allows another firm, in this case a firm in another country, to use their brand name in exchange for some compensation. So the advantage is that it allows the company that's offering license to enter foreign markets without a whole lot of capital. The potential disadvantage, if you stop to think about it, is what if those standards are not maintained. Let's say that you've got a hotel and they say okay we're going to license the name to a branch in Moscow and that branch has very low standards (dirty rooms). Well that could damage the brand in other countries. So there's some definite pros and cons. A very common form international business is exporting. And this is producing a product in this country and sending it to another country. If you take international business and/or export-import they'll get into the more nitty-gritty of some of the ways of doing that (using letters of credit etc.) which are a little beyond the scope of this class other than to mention them. Okay, so they said some of the more detailed forms i won't get into too much other than to mention them. Joint ventures are very popular, you know case in point Universal Studios is now opening in China and not surprisingly they're doing a joint venture with a Chinese partner. And that makes a lot of sense especially in markets that are hard to enter such as China, it makes sense to have a local partner that can help you navigate that and also put kind of a local face on the business. Okay the most highest level of commitment if you will is a totally owned facility in another country. That requires a great deal of capital commitment and has had a large a large capital outlay. Okay so some of the steps in entering international markets and if you think back a couple of slides previously we looked at the negative balance of trade, we looked at the importance of the balance of trade in terms of the balance of payments, that should probably give you a pretty good idea that the federal government and the state government are are very interested in supporting exports. So by virtue of that, if you are interested in exporting there there is support for you both at the federal level through the Department of Commerce and various programs and at the state level. And in fact we have the Center for International Trade Development here as a kind of a sister organization on Paramount Street. If you have an established business and you're looking to expand in exports they can certainly assist you with that. So there's always a flipside. There's no such thing as a country that has virtually unfettered trade, all of them restricted to some extent, some more than others. So it kind of begs the question, why would a country want to restrict trade? Well we're going to tackle that shortly but first I want to talk about some of the more common ways of restricting trade. Actually no let me answer that question first let me answer in its simplest form. We did say a minute ago that countries want to have a positive balance of payments to accomplish that they want a positive balance of trade, how do you get a positive balance of trade. Well, you export more than import. So countries want to you know there's one of two ways of doing that they can either export more and to do that they utilize the programs i just mentioned you can support your exporters. Or you can discourage imports if you want to improve your balance of trade. So countries do regulate imports and some restrict them quite heavily. So there are various ways of doing that. The most common way of restricting imports is to make them more expensive. So if you're choosing between an apple grown in California and an apple grown in Mexico, the easiest way to encourage you to buy the one grown locally is to make the one that's imported more expensive. How do you do that? Well you slap a tax on it. And this is what is known as an import tariff where they essentially put a tax on a product that's entering from a foreign country. This is an issue that's being discussed quite heavily as to whether we should put higher import duties on imported products. Another topic that is very strongly in the news right now is the issue of dumping. Dumping just to define it is selling products in a foreign market for less than you sell them in your market or for less than it costs them to cost you to produce them. So right now the controversy is whether or not the Chinese are dumping steel in the US market if they're in fact selling it at less than it costs them. And you might say well why in the world would would they do that? Well you know stop and think a minute yes they will lose money initially but if they can drive out local providers then once they have captured the market once they've established a monopoly they can send prices through the roof. So as I said a minute ago tariffs are the most common form of trade barrier. They're also a very overt form so if you have a tariff it might in fact invite retaliation because it's not that difficult for the country that you're putting a tariff on to do the same. So countries have gotten very good at enacting what are called non-tariff barriers. There are other trade restrictions but they're not quite as overt as a tariff so let's look at some of those. One is a quota where they simply limit the amount of a particular good that may be imported during a given time. So a really good example of this in recent decades American car companies that kind of clamored for help from the US government because they've had trouble competing with imports especially with Japanese cars. So at one point Uncle Sam said okay you know I'll accommodate you. I'll get the Japanese to agree to what they called VERs or voluntary export restraints. Voluntary being kind of a euphemistic way saying it because it really was a quota. They were saying you know we're only going to allow certain number of Japanese cars. The problem with that is they think about supply and demand Japanese cars tend to be well-made so the Americans still wanted them. So when they limited the supply of Japanese cars if the demand stay the same what happened the price well the price went up. So needless to say that quota did not in fact help the domestic industry and if you think about the bailout a few years ago obviously didn't help. A more extreme form is an embargo and an embargo says you know you can't bring in anything from the country. That's the most extreme form and that's really done for political reasons. So the classic example of that is Cuba and it's really fascinating right now to see that loosening up but as it stands as of this moment you still can't say um number bring in my own Cuban cigars, still a no no. A couple of other non-tariff barriers, one is foreign exchange control. So if you are selling a product to a foreign country and that person in that country simply can't get dollars to pay you that's a pretty good way of limiting imports into that country. And then last, actually there are others but the last one on the slide, is a currency devaluation. So quite a number of years ago I was happily exporting construction equipment to Mexico and lost the market overnight, and I mean literally overnight, when the peso was devalued the Mexicans could no longer afford our backhoes. So this was also a really effective way for Mexico to decrease imports into that country and on the flip side to increase their own exports because their currency was cheaper so by virtue that their products became cheaper. So let's look at some reasons for trade restrictions. let me pause here and we'll pick that up in the next section. .

Chapter 22: Fighting for the Four Freedoms: World War II, 1941-1945- Part 1 and 2 – .

WORST Engineering Mistakes In History! – From messing up space missions to losing millions
of dollars in seconds, here are the 10 roughest miscalculations in history…..
10. The Hubble Telescope The Hubble Space telescope has changed the
way that we see the Universe since its launch in 1990. It was one of the greatest technological achievements
at the time, but things almost didn’t work out so well….and all because of a tiny miscalculation. When the first images were sent back, they
were pretty blurry!! Scientists scrambled to understand why! They desperately searched to find what had
gone wrong with the 1.5 billion dollar telescope, because that would be one expensive mistake!! To much dismay, they soon found the answer,
and it was that the 94.5 inch primary mirror had been ground to the wrong shape. While it was only 2 microns too shallow- the
equivalent to a fraction of the width of a human hair- this error meant that, instead
of bringing up to 70% of a star’s light to the same focal point, Hubble was only able
to get between 10 and 15%. But what could cause such a massive error? It turns out that it was something as small
as a washer that had been inserted into a device called a ‘null corrector’, that
had been used to check the shape of the mirror when it was being fabricated. Luckily, scientists found that another instrument
on the telescope was able to counteract this effect and, by tweaking it slightly, could
restore most intended functionality to the telescope. Nonetheless, Hubble was, for a brief time,
the laughing stock of the space science community, and was very nearly a complete failure. 9. The Havilland Comet Why are plane windows rounded you ask?? I’ll tell you! Following the second world war, the development
of aircraft went into overdrive, with companies realizing the potential that faster commercial
travel would offer. During the 1950’s a number of pilots lost
their lives in the development of fast jet flight, but in 1952 the world’s first jet
airliner was brought into service- the ‘de Havilland Comet’. There was a problem with their design, and
3 Comets broke up during flight- killing everyone onboard. This was a major disaster and the Comets were
grounded. The first air investigators were called in
to understand what had happened. This was at the very beginning of the age
of air travel, so the understanding of fuselage design and the pressures exerted in the air
were nowhere near what they are today- but it was one feature of the Comets design that
was deemed to be the most fatal- its square windows. The weaknesses in their corners were found
to be the points from where the plane’s structure had fallen apart, which is why today,
we now only see oval windows on modern passenger airlines. These still prove to be the weak point on
planes, though, and recent designs for the jets of the future have omitted windows altogether. This makes them safer and more fuel efficient. Instead, companies plan on offering video
screens to replicate the sensation of looking outside for their passengers. And now for number 8, but first if you are
a returning subscriber welcome back!!! And if you are new here be sure to subscribe
before you leave so you dont miss out on the latest videos! 8. The Millennium Bridge The year 2000 was a time when countries around
the world felt like they should build something special to celebrate the occasion, but London’s
Millennium bridge didn’t quite live up to expectations. The idea was simple. A new pedestrian bridge would be built across
the river Thames, connecting two important parts of the city. The 320-meter-long lateral suspension bridge
was hailed as a statement of engineering ability by those who created it, and excitement was
high when it finally opened in June of 2000. Someone had made a wild miscalculation, though,
and as thousands of people walked across, it began to wildly sway from side to side. Despite the engineers taking into account
the questions of weight and pressure being exerted from normal forces, they had failed
to think about the effect of people’s weight moving as they took steps across the bridge. Whoops! Hundreds of people can weigh a lot!! Interesting fact: armies from around the world
have always taken this into consideration, and it’s standard practice for them to break
step every time they reach a bridge. The Millennium bridge was, unsurprisingly,
closed very soon after its opening and, after a major redesign and at a cost of many millions
of dollars, was reopened two years later in 2002. 7. The Hindenburg It was once thought that airships would be
the best way to travel, but the infamous case of the Hindenburg kind of was a buzzkill on
that idea, following a tragedy that happened due to a design error. The Hindenburg was the fastest way to cross
the Atlantic back in the day, taking people between Europe and North or South America
in half the time it would take by Ocean Liner. Plus all in complete comfort. On May 6th, 1937, the ship became engulfed
in flames, killing 36 people. It was filled with 7 million cubic feet of
Hydrogen gas and caught fire. This was triggered by a basic law of physics
that hadn’t been taken into account during its design. There was a difference in the electrical potential
between the ship and the surrounding air due to the conditions that day. Something that occurred because the metal
framework of the ship had been grounded by the landing line. This differential is what caused the spark,
and the rest was history. If the ship had been inflated by a non-flammable
gas, or if measures had been taken to prevent electrical build up, then the skies of today
would probably look a lot different! 6. French Railway Cars France’s railway network is one of the best
in Europe, and it’s perfect for getting around the country. That’s why in 2014, the results of a 15
billion Euro investment into the Regional Express Trains was welcome news. When the new trains began being delivered,
though, it soon became clear that a major mistake had been made- the trains were too
wide for the platforms of more than 1,300 of the stations. This left the rail bosses with the unenviable
choice of how to fix the situation. Do you make new trains?? Or do you fix the stations?? They decided to spend more than 50 million
Euros, (about 60 million dollars at the time), to shave the stations to prevent the new trains
from getting stuck. There was uproar about this waste of money,
with France’s transport minister calling it ‘comically tragic’. The head of the train company laughed it off,
though, saying that it amounted to less than 1% of the yearly cost of running the railways,
and that it was merely a ‘drop in the ocean’. So there!! 5. Big Ben Does this look familiar? Big Ben is the bell that chimes near the Houses
of Parliament in London, but it took its designers more than one attempt to get it right. The first bell cracked during testing in 1857,
so it had to be melted down to be recast. The new bell was then lifted into position
in 1859, but over the next three days, it also cracked. There were big arguments over who was to blame,
and there was even a libel case. Theories of the problem ranged from the bell
being cast from material that was too brittle, or that the hammer was too heavy. SO basically they were accused of not knowing
what they were doing. Rather than replacing the bell again, it was,
instead, rotated by one eighth of a turn, and the hammer was replaced by a lighter one. 4. Mizuho Securities The financial world is full of stories of
those who made it big, and lost it all. But one of the most costly mistakes of all
time took place in 2005, when Mizuho Securities Co lost 27 billion yen, or 225 million dollars,
on one trade. The incident caused ripples through the Tokyo
stock exchange, and drew criticisms from the government. It may not be a surprise that it’s possible
to lose so much, but it’s the way that it happened that was a cause for concern. It started when a trader at Mizuho Securities
tried to sell 610,000 shares of a soon-to-be-launched job recruiting firm for 1 yen each. That’s less than 1 penny. The problem is that the trader had intended
to sell 1 share for 610,000 yen, the equivalent to about 5,000 dollars. He typed the numbers in backwards!!! Even worse was the fact that the company didn’t
even own that many shares, but the exchange still processed the transaction- meaning that,
despite trying to cancel the trade and being denied by the exchange, by the end of the
day their liability had reached the gigantic figure. . 3. The Laufenburg Bridge The Laufenburg bridge was a much hailed project
to connect the towns of Laufenburg in Germany with Laufenburg in Switzerland- two twin towns
on the opposing banks of the Rhine river that relied on each other. The 12 million dollar bridge began construction
in 2003, with works starting on each side and eventually meeting in the middle. The problem was that as the bridge started
to extend out, it became clear that each side was a different height!! It wasn’t just a small difference either,
the discrepancy was measured to be 54 centimetres, or about 1 and a half feet! Luckily, the German engineers were able to
fix the problem before things went too far, but they were certain that the mistake had
been made on the Swiss side. It actually turned out that the mistake was
made by both of them. When drawing up the plans for the design,
the bridge dimensions were calculated by using sea level as a guide. The problem is that sea level is calculated
differently in each country, and in the case of Germany and Switzerland there’s a 27
centimeter difference. When engineers tried to factor this in, they
missed a negative sign, so instead of neutralising the difference it was doubled instead. All these details count!! 2. Mars Climate Orbiter Since its discovery by Galileo in 1610, Mars
has captivated people’s imagination! I mean, some people even want to live there!! We love researching Mars! It took hundreds of years to develop the technology
to actually visit the red planet but finally, in 1971, Mariner 9 became the first probe
to enter its orbit. Since then, a number of probes have been to
Mars, but there was much excitement about the Mars Climate Orbiter because it was going
to monitor the planet’s weather systems and relay data from the Mars Polar lander,
after it arrived in September of 1999. Something went very wrong, though, and after
a 286 day journey, the probe came within 36 miles of Mars, about 60 miles closer than
intended, and 15 miles lower than its functional height. Its propulsion system overheated and the engine
failed to complete its burn, leaving it to plough through the atmosphere and beyond the
planet- left to float in space forever. It’s not uncommon for space missions to
go awry, but this one went wrong for the most simple of reasons. NASA had, for many years, used metric measurements
for all their missions but one of their contractors, Lockheed Martin, had been using Imperial measurements. With 1 metre equalling 3.2 feet, it’s clear
to see how this error could lead to major issues in calculations. 1. Ronald Wayne Ronald Wayne was one of the three founders
of Apple in 1976, alongside Steve Jobs and Steve Wozniak, but you’d be forgiven for
not recognizing his name. The reason for this is that he sold his 10%
stake in the company just 12 days later for 800 dollars. He was 40 at the time, and has said that he
felt out of his depth standing in the shadow of intellectual giants’ who were half his
age. He didn’t really believe, or he really needed
the money back. In the following years, while his co-founders
went on to become multi-millionaires, Wayne remained on a modest income but he has no
regrets- except for one. He was responsible for writing up the original
Apple contract that defined the three founders’ roles. Not thinking he would need it anymore, he
sold it to an autograph collector in 2000 for 0. In 2011, the contract would go on to sell
for 1.6 million dollars, something that Waynes says summed up the story of his life. Thanks for watching!! Live life with no regrets and pay attention
to detail!! Be sure to subscribe and see you soon!! Bye everyone!! .