Economics
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1. What comments and/or questions do you have on free-trade agreements and free-trade areas? What examples do you have of how trade within free-trade areas, such as NAFTA, is not completely free?
2. What are the variable costs of your workplace/employer? Is your job a variable cost? Is your job threatened by technological change?
3. What comments and/or questions do you have on customs unions and how they differ from free-trade areas?
4. Could your workplace increase its economies of scale by increasing production? Why or why not?
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Solution Summary
This solution discussed NAFTA, variable cost, customs unions and economies of scale. Free trade agreements and areas are provided.
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1. What comments and/or questions do you have on free-trade agreements and free-trade areas? What examples do you have of how trade within free-trade areas, such as NAFTA, is not completely free?
I would like to know further on how the taxes portion of it works when it comes to imports and exports for each product that is overseas. The other area I am curious about is that of the exchange rate on how this is figured up and how it affects taxes. Some examples of trade are important. For instance, a person has to comply with NAFTA when doing any kind of trade overseas. They will have to comply to the exchange rate and additional taxes on imports and exports in order to do business; however, this is not an easy task because laws change and so does the rate that occurs within countries doing business together, which is why it is crucial for negotiations ...
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