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    International Trade

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    1. Suppose we refused to sell goods to any country that reduced or halted its exports to us. Who would benefit and who would lose from such retaliation? Can you suggest alternative ways to ensure import supplies? Are there any particular imported commodities that you or your firm rely on? What has happened to the supply of these imports over the years?

    2. Domestic producers often base their claim for import protection in the fact that workers in country X are paid substandard wages. Is this a valid argument for protection? Can you give examples of when it did/did not work? Is there any trade restriction that the US government could impose that would have a negative/positive impact on your organization? Explain.

    3. How do efficiency techniques differ in the short- versus long-run when attempting to maximize profits? What specific incentives are used in your workplace to promote efficiency? What conflicts may exist between a firm's desire to maximize profits and its ethical obligations? Can you give an example from your place of work?

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    Solution Preview

    The response addresses the queries posted in 1050 words with references.

    // Before understanding the concept of supply of import, it is very essential to gather the knowledge regarding the conditions of selling goods, who would be benefited and who would lose from such retaliation. All these concepts is being explained below with the help of footwear firm//

    From this situation, other providers (Countries) will benefit because the current demand of the goods will be fulfilled by other providers (Countries).The country that refuses to sell goods to any other country will loose its market share in that particular country. The various alternative ways to ensure import supplies include creating diplomacy, political hindrance, setting high quotas, anti-advertising on local market and subsidies product from other providers etc. (Misra & Puri, 2007)

    Our organization is a footwear firm and the firm depends on other providers in U.S. For leather. Over the years, the supply of leather in U.S has been showing fantabulous results in leather trade and there has been an average supply of leather has been about $500,000 per month. On the other side, leather firm invariably meets out the growing demand to about 10 % annually, which manifests a healthy trade.

    // To understand the concept of trade restrictions, I am here explaining the situation, which related with the situation that Domestic producers often base their claim for import protection in the fact that workers in country X are paid substandard wages. In this concern I am providing the validity of the argument in the following manner//

    Yes, this argument is definitely valid for import protection. Several industries that have been declining due to the ...

    Solution Summary

    This response addresses the queries posed in 928 Words, APA References