Small Group Team Essay Example | Topics and Well Written Essays - 2250 words

Little Group Team - Essay Example A group that has generally been known for its smooth passing game, Arsenal, an English football club situated in London have as of late go under a great deal of investigation for failing to meet expectations, for which miscommunication among the players has been refered to as a significant issue. Having seen a season where they stayed magnificent and were delegated the victor of English football in 2003/2004, Arsenal has been without any flatware in English football since 2005. The period following their age of greatness has been set apart by built up players leaving the club and new faces coming in. This reshuffling has brought about a slack in execution as it possesses taken energy for the new players to settle in. On the 26th of February Arsenal’s coordinate against Tottenham Hotspurs gave some intriguing understanding on the team’s correspondence elements. Despite the fact that Arsenal dominated the match 5-2, various holes were apparent in the group elements that t he crew needs to deal with. . Arsenal’s execution as of late has been damaged by an absence of administration, particularly after various star entertainers had left. This absence of a nonentity has been clinical in Arsenal’s horrible showing this season. ... Before their match with Tottenham, the group was seen heating up on the ground. A specific example was perceptible, about portion of the group was heating up around the chief as a circle and every one of them were confronting him. Despite the fact that this training was individual in nature as each player was heating up all alone yet their positions inadvertently reaffirmed their confidence in their commander. This was trailed by the skipper dispatching directions and imparting a system to all the players. Strangely, the commander had 2 or 3 senior players remaining close by while having the pre-coordinate group talk with the more youthful players. At the point when the match began Arsenal yielded two fast objectives, them two brought about by protective failures. After the primary objective one of the senior protectors was seen talking boisterously to one of the more youthful players, while the objective manager took a gander at his safeguards frustratingly with his hands on his bac k. This conduct was observable particularly among the senior-to-junior player connection and proceeded till Arsenal leveled the scores and the group got a fundamental assurance support. The captain’s conduct during the entirety of this offers an alternate point of view, he was seen praising the leader of the youthful player as an indication of consolation and continually attempting to lift the camaraderie up by reciting cheers. As a positive, the players were seen praising each other after a decent tackle was made or a nearby shot on objective was endeavored. Understand that football being a group game requires equivalent measures of exertion and duty from every player. A frail connection can cause the entire team’s endeavors to go futile. This is maybe why a portion of the more experienced players are seen chastising a portion of the more yearning youthful players

THE THEORY OF FREIGHT RATES An Amazing Assortment Of Goods Are Moved O

THE THEORY OF FREIGHT RATES An astonishing variety of products are moved over the universes sea exchange courses. Of need, the bearers charge for the administration they render. These charges shift nearly as generally as do the cargoes, for they reflect both the shipowner's expenses and the unique conditions persuading the exchange courses crossed by the boats. Sea cargo rates might be portrayed as the costs charged for the administrations of water transporters. Each boat administrator builds up it's own rates, for the most part without conference with the shippers. The charges mirror the expense of giving the carriage, the estimation of this support of the proprietor of the merchandise, the capacity of the product to help the cost of transportation, and monetary conditions as a rule. Cargo rates really mirror the working of the laws of gracefully and request. In tramp dispatching, especially, it is conceivable to watch how these variables impact the ascent or fall of cargo rates from everyday and from payload to freight. Tramp ships transport, in shipload (or full freight) parts, items which, similar to coal, grain, metal, and phosphate rock, can be moved in mass. The way that normally just a single shipper and one item are included rearranges the foundation of a cargo rate for this specific development. To the capital charges of proprietorship and the cost of organization and overhead should be included the expense of running the boat, dealing with the payload, and paying port charges and harbor levy. Against this absolute is set the quantity of tons to be pulled, and the resultant figure is what the tramp must charge, per ton of freight stacked, to make back the initial investment on the thought about journey. On the off chance that serious conditions grant, an edge for benefit will shape some portion of the cited rate. In the event that anyway the predominant monetary atmosphere is troublesome, the proprietor has the benefit of resigning the boat to a quit backwater, there to hold up until the money related skies are more splendid. The tramp administrator doesn't rely on the longterm generosity of the shippers, however is allowed to acknowledge those offers which seem productive right now. At the point when difficulty compromises, those contracts are acknowledged which limit foreseen misfortunes. On the off chance that there is a decision, the expense of impermanent lay-up is differentiated with the misfortune which proceeded with activity may create, and the more affordable option is chosen in a bow to the inescapable made with whatever effortlessness that can be gathered. Liner-administration organizations, then again, depend for money related flourishing upon the collected generosity of shippers who, as the years progressed, come to depend upon the customary and proceeded with activity of the organization's armada. Transitory withdrawal from administration at whatever point monetary conditions are not exactly positive is inconceivable. The liner will cruise on her ordinary run, regardless of whether full or not, she will convey a wide assortment of products, each with its own characteristics, in amounts which can be evaluated ahead of time pretty much precisely, however never with complete assurance. The ports of call are known far ahead of time of cruising, and the all out cost of working the boat can be determined with satisfactory accuracy. Since, be that as it may, the specific dispersion of tonnage, ware by item, fluctuates with each excursion, it isn't conceivable to build up a rate that mirrors the expense of moving a solitary ton of a specific product as intently as does a tramp proprietor's calculation. This isn't to propose that liner-administration administrators can't register to a comfort the expenses of possessing and working their boats. They know to a small amount of a penny their day by day costs for amortization and enthusiasm on obtained capital, and what managerial costs they should charge to person journeys. In a similar way that their partners in the tramping exchange can fix singular rates, liner proprietors can figure out what they should charge per-ton to convey a solitary item when it is offered in parcels adequate to fill one of their boats. For a fact, the liner-administration administrators know roughly what is going to move, a great many journeys, and have a smart thought of what tonnage to anticipate. They should appraise the overhead to be charged against every item and the cash based expenses of taking care of them at ports of stacking furthermore, release. A division of income must be made to settle the authoritative cost of the vessel activity. At long last, a little benefit ought to be added to remunerate the proprietors for the dangers they accept just as for their aptitude and venture,

Relaxation Techniques to Manage Social Anxiety Disorder

Relaxation Techniques to Manage Social Anxiety Disorder Social Anxiety Disorder Coping Print Anxiety Disorder Relaxation Techniques By Arlin Cuncic Arlin Cuncic, MA, is the author of Therapy in Focus: What to Expect from CBT for Social Anxiety Disorder and 7 Weeks to Reduce Anxiety. Learn about our editorial policy Arlin Cuncic Updated on February 04, 2020 Social Anxiety Disorder Overview Symptoms & Diagnosis Causes Treatment Living With In Children Hero Images /Getty Images Anxiety disorder relaxation techniques are an important part of many behavioral treatments for anxiety disorders and specifically for social anxiety disorder (SAD). For example, if you have a fear of public speaking, part of your treatment may involve practicing deep breathing and muscle relaxation while imagining giving a speech. While relaxation techniques often form part of a more comprehensive treatment plan, these are strategies that you can also practice on your own at home. Four strategies in particular that have been used are diaphragmatic breathing, progressive muscle relaxation, autogenic training, and guided imagery. Diaphragmatic Breathing Diaphragmatic breathing, or deep breathing, is the practice of expanding your diaphragm as you breathe, so that your stomach rises and falls, instead of your chest. During an anxiety attack, you are more likely to take shallow breaths, which contributes to symptoms of anxiety. Tips for Practicing Diaphragmatic Breathing By practicing how to breathe slowly and deeply while in a relaxed setting, you will be better able to call upon this method of relaxation during times of stress. Deep breathing also forms the foundation upon which other relaxation techniques are built, so it is an important concept to master. Progressive Muscle Relaxation Have you ever noticed the feeling you have after a really intense workout? Your muscles have been fatigued to the point that your body is totally relaxed. This is the objective of progressive muscle relaxation (PMR). Alternating between tense and relaxed muscles helps to induce full-body relaxation. During this practice, you will be directed to tense and relax various muscles throughout your body. How to Use Progressive Muscle Relaxation for Anxiety PMR can also be paired with imaginal exposures in which you picture yourself facing feared situations and learning to relax as you do so. Autogenic Training Autogenic training describes a technique similar to meditation, in which you repeat a series of statements to yourself about different parts of your body. The repetition of these statements is believed to influence the functioning of your autonomic nervous system, which includes your heart rate. Guided Imagery Have you ever wished you could escape to a tropical island or hole up in a log cabin? If you dont have the time or means to actually live out your fantasy, give guided imagery a try. This technique involves using all of your senses to imagine yourself in a relaxed setting. Your body, in turn, enters a relaxed state. Be careful, though, you may become so relaxed that you fall asleep! It is best not to practice this technique when you have to be somewhere soon. Try it out at night before you plan to fall asleep. Research on Relaxation for Anxiety A 2017  meta-analysis of 50 studies (2801 patients) compared relaxation training with cognitive and behavioral treatments for anxiety. Results of that study showed that there was no significant difference between relaxation and cognitive and behavioral therapies for generalized anxiety disorder, panic disorder, social anxiety disorder, and specific phobias.   In addition, a 2018 systematic review with meta-analyses exploring the effect of relaxation therapy with people with anxiety disorders showed that relaxation therapy was effective for this group to reduce negative emotions as well as symptoms of depression, phobia, and worry. Putting Relaxation Into Practice Once youve chosen a relaxation technique, be sure to set a time to follow through. Though you might feel like you dont have time to relax, that is probably a sign that you need to make time for some relaxation. By incorporating a daily or weekly practice into your life, you might actually find that you start to look forward to the feeling of calm that it brings. A Word From Verywell If your social anxiety is severe and you have not already sought help from a mental health professional, this should be your first step. However, if you are just looking for some additional support, the use of these self-help strategies may be helpful to reduce your symptoms. Set aside a regular time of day to practice these relaxation techniques, so that it will become a habit. Over time, you should notice that it becomes easier to calm yourself when in stressful or anxiety-provoking situations. Coping With Social Anxiety

The First Industrial Revolution During The 19th Century Essay

The First Industrial Revolution started prior to the 18th century in the 1700’s. The prior events that started up the industrial revolution began with some innovations that were very basic, but are key to the rise of the revolution. These were small hand tools, which had been created to work on houses/barns, live stalk, and so on. The most basic machines were invented in this time too, but giving the time for a revolution to appear through these new ideas that had been created. The first Industrial Revolution took place from the 18th century to the 19th century. The revolution marked a time of industrialization in, which many special purposed machinery were made, factories were created, and a mass amount of production had begun. The most crucial time in this revolution was when the main inventions were created that had changed the industry forever. As these new inventions, materials, and machinery were invented we saw a huge amount of new improved systems, such as factories, m arketplaces, transportation, clothing, and communication. If all these factors demonstrate industrialization, how will they play a part in society in the Industrial Revolution? Prior Events Leading to Revolution: The First Industrial Revolution didn’t begin everywhere, but only in one main country, known as Britain. Industrialization wasn’t spread into other countries, such as France, United States, and Germany until the 19th century when they were truly established in industrialization. Now inShow MoreRelatedThe Industrial Revolution in the Great Britain of the 1800s1205 Words   |  5 Pagesconditions to spearhead the first true revolution that had an effect in all aspects of life since the invention of fire. It possessed necessary prerequisites, such as formidable population size, bountiful coal and iron deposits, and the demand of such a revolution, to gain a head start over the rest of the world. The confluence of such factors culminated in a perfect storm, a storm that destined humanity to become more than an average species. The Industrial Revolution in the Great Britain in theRead MoreThe Impact of The British Revolution on Society Es say example546 Words   |  3 PagesThe British revolution had a great impact on the society. Various complicated machines tools were used in the production and rural-agricultural and commercial society to a progressive rural- industrial society, this period of time old ideas mere modified, not swept away and gradually new ideas took place. This thing helped Britain changing their city life, social class structure, the power of the British nation amongst rest of the world, the production of machinery, and the strength of the economyRead MoreThe Invention Of The First Industrial Revolution1391 Words   |  6 PagesThe First Industrial Revolution Envision living in a society dominated by factories that just recently transformed from arable land and farms. Imagine constantly hearing about brand new inventions and ideas that were deemed impossible only a few years ago. Visualize working long hours in cramped factories, in exchange for low pay and contagious diseases. For some people that lived during the age of industrialization, this was their reality of life. During the 18th and 19th century, the world wasRead MoreThe Importance Of The Industrial Revolution865 Words   |  4 PagesAs the 19th century was starting, so was the start of the Industrial Revolution. The 1800s began with a bang as Count Alessandro Volta invented the first battery. Volta is the reason why we now measure electricity in â€Å"volts.† About ten years later Joseph Nicephore Niepce would create a machine that could produce a likeness or photograph. The first photos were taken around his house, the process took several hours to complete. A little l ater in the same year, the first steamed powertrain was perfectedRead MoreFrankenstein Pursuit Of Knowledge Essay1673 Words   |  7 Pagesknowledge one cannot help but see the correlations between Mary Shelley s infamous character, the ‘creature’ and the Industrial Revolution of the 18th and 19th centuries. In addition to the obvious correlation between the monster Frankenstein and the Industrial Revolution, any analysis would be incomplete without the supposition that the 18th and 19th century Industrial Revolution overlaps or encompasses many of the additional themes in Mary Shelley s novel. These additional themes include feminismRead MoreThe Industrial Revolution1097 Words   |  5 PagesBefore the advent of the Industrial Revolution, most people resided in small, rural communities where their daily existences revolved around farming. Life for the average person was difficult, as incomes were meager, and malnourishment and disease were common. People produced the bulk of their own food, clothing, furniture and tools. Most manufacturing was done in homes or small, rural shops, using hand tools or simple machines. Did You Know? The word luddite refers to a person who is opposedRead MoreEssay on The First Industrial Revolution: Progressing Society1022 Words   |  5 PagesThe First Industrial Revolution: Progressing Society The First Industrial Revolution modified every aspect of daily life. According to Princeton University â€Å"Economic historians are in agreement that the onset of the Industrial Revolution is the most important event in the history of humanity since the domestication of animals and plants† (Princeton par. 6). The First Industrial Revolution brought along machines, a capitalist economy, and trade expansion. Machines increased productivity, capitalistRead MoreHow Did Industrialization Affect The Industrial Revolution1247 Words   |  5 Pagesof the 19th century delivered a considerable amount of change as a result of the Industrial Revolution. While the majority of modifications began in England their effects could be felt throughout Europe. The development of more efficient and mechanized tools to further industry, specifically the textile industry, became common place in England during the later part of the 18th century and the early part of the 19th. As society moved fr om an agriculturally based economy to an industrial based economyRead MoreHistorical Events And Their Impact On The World952 Words   |  4 Pagespast. The Industrial Revolution during the 18th to 19th century, the Industrialization of the 20th century, World War I and World War II, all left traces and have greatly impacted the way we live in today particularly out living standard. The goal of the paper is to discuss the effects of these historical events on the way we live in terms of living standards. The First Industrial Revolution The Industrial Revolution during the 18th to 19th century was referred to as the First Industrial RevolutionRead MoreEffects of the Industrial Revolution727 Words   |  3 PagesThe Industrial Revolution, lasting between the 18th and 19th century, profoundly affected the people of Europe, North America, and other regions of the world. The revolution produced new exciting technological innovations. As a result, the socioeconomic climate and cultural aspects of Europe and North America were altered in an unprecedented manner. Industrial opportunities also lured the population away from agrarian lifestyles to more urban populaces. The Industrial Revolution extensively changed

Brief Article Teaches You the Ins and Outs of Problem Solving Essay Topics List and What You Should Do Today

Brief Article Teaches You the Ins and Outs of Problem Solving Essay Topics List and What You Should Do Today All you need to do is tell the writer what kind of an essay that you want to have and the deadline. All you will need is a simple topic. As you proceed through different topics, this format will arrive in handy as you brainstorm the thoughts and structure of the essay. Let's take a quick glance at some of the most fascinating problem solution essay topics for students that will assist you in writing an essay. Let's talk about the simple issue and solution essay ideas. The involvement essays money in solution and the way it can alter the face of our nation. Mental wellness care Sadly, many people with mental illnesses aren't getting the treatment they require. Future results of the problem can be applied as leverage for the call to action. Our customer support will gladly tell you whether there are any special offers at the present time, along with make sure you are getting the very best service our company may deliver. The new year gives one a whole lot of chances to research different essays and the ways how they are sometimes written. One of the most important challenges which you will face in your early college years is the gluttony of essays which are going to be assigned in a variety of courses. During the duration of your academic car eer, whether at school or university, you'll almost certainly have to write a minumum of one problem solution essay. A problem solution essay seems to be something which not only college students may get assigned. The Do's and Don'ts of Problem Solving Essay Topics List There are even ideas on driving and transportation so you'll be able to detect something which you're able to write about. How to stop drunk driving and deaths because of it You have the chance to earn a difference by means of your essay. Self-driving cars reduce the danger of automobile accidents. There are a lot of problems, even on your own campus, that have to be resolved. A solution essay presents an issue, describes what the writer thinks is the very best solution to the issue, and then supports her or his selection of solution. Write a problem solution essay about exactly what you should do. Then you need to enlist solutions to fix the issue. When you're ready with the problem on your hands, you mus t think over the ideal solution. To fix a problem through writing isn't as simple as it sounds. Once you get your problem, you will need to speak about it a small bit and persuade the reader's opinion that the problem should be resolved. Problem is a question which requires solution. Put simply, locate a situation which will deal with some social, cultural, or historical matter. If you own a topic provided already, click the order now button to file your request. No matter your case might be, ensure each of the body paragraphs analyzes a distinct element of your topic. The main reason is there are basically only two main things you will have to write about in your problem and solution essay, making it so much simpler to research info and structure the paper. All About Problem Solving Essay Topics List Sometimes you receive the problem and you've got to state the difficulties. Should you look around, you are going to observe social troubles that affect society daily. You merely need a couple of problems as remember you don't have a lot of time and you will need to spell out the difficulties. Another significant problem is the development of internet fraud and hacking. Thus, you've got to be quite careful whilst recommending the ideas. Therefore, before getting down to finalizing a topic that interests you, below are some guidelines you want to bear in mind. Persist with the plan which you have chosen. The plan you've got for solving the issue must be strong.

Answer to exercises Free Essays

Why does the Hong Kong Government impose duties on very few types of imports? p. 151 Discuss 12. Explain how the imposition of tariffs and quotas may restrict international trade and rotect domestic industries. We will write a custom essay sample on Answer to exercises or any similar topic only for you Order Now p. 154 12. 2 ‘Free trade benefits everybody in an economy. ‘ Do you agree? Explain. Test yourself Refer to Fig. 12. 5. Explain why the supply curve after the imposition ofa unit tariff t is represented by the line abeg (Hint: Find out the quantities supplied at domestic prices below, equal to and above (Pw + t), respectively). p. 160 12. 3 Who would gain and who would lose under a quota? Fill in the following table with a in the appropriate box and account for them. Lose Reasons The importing country which imposes a quota Consumers Producers of import-competing industries The government The exporting faces a quota Producers of exports How do trade barriers imposed on the exports of the mainland of China also adversely affect Hong Kong? pp. 173-176 Exercises Multiple Choice Questions Free trade A. benefits all domestic consumers and producers. B. benefits domestic consumers of imports but harms domestic producers of import- competing industries. C. benefits domestic consumers of exports but harms domestic producers of exports. D. arms all domestic consumers and producers. Which of the following descriptions about trade barriers is INCORRECT? A. A tariff is a ax imposed on imports. B. A quota is a maximum limit imposed on the quantity of imports. C. An export subsidy is a government grant on exports. D. Exchange control is the government control over exchange rates, i. e. the prices of foreign currencies in terms of domestic currency. Which of the following is an effect of a quota? A. A quota shifts the supply curve of the imported product upwards. B. A quota reduces both domestic consumption and domestic production. C. A quota raises the quality of the imported product. D A quota raises the world price of the imported product. 4. Refer to the following diagram. The deadweight loss brought by a tariff is represented by A. Area (E + G). B. Area (H + D+ B). c. Area (B + q. Under the individual visit scheme, many individuals from the mainland of China travel to Hong Kong. This increases Hong Kongs (1) domestic exports of goods. (2) re-exports of goods. (3) exports of services. (4) imports of goods. A. (2) only B. (3) only C. (3) and (4) only D. (2) and (3) only 8. Which of the following descriptions about Hong Kongs attempts to face challenges in foreign trade is INCORRECT? A. Introduction of the Mandatory Provident Fund to improve the welfare of workers B. Improving productivity through capital investment as well as research and development C. Relocating land-intensive and labour-intensive production processes to the mainland of China and other low-cost economies D. Participating actively in international organisations and conferences to promote international trade Short Questions Country A imports Good X and exports Good Y. Suppose the world price of Good X is lower than the domestic price of Good X in Country A under autarky. With the help of TWO diagrams, compare the situation without trade and the situation with trade and show the gains from trade. Do all domestic consumers and domestic producers benefit from trade? (8 marks) b**. Suppose the world price of Good Y is higher than the domestic price of Good Y in Country A under autarky. With the help of TWO diagrams, compare the situation domestic consumers and domestic producers benefit from trade? 8 marks) With the help of a diagram, illustrate why the imposition of a quota would benefit domestic producers but harm domestic consumers and bring a deadweight loss to an economy. (8 marks) Structured Questions Trade Organization, China has to reduce its tariff on cotton. Suppose the world price f cotton remains unchanged after the tariff reduction. a. With the help ofa diagram, illustrate how the reduction in the tariff affects the domestic price, domest ic consumption, domestic production and volume of imports of cotton. (7 marks) b. How does the tariff reduction affect the consumer surplus, producer surplus, government revenue and total social surplus? (5 marks) a. Compare the effects of an increase in domestic demand on the domestic price, domestic consumption, domestic production and volume of imports if a country imposes a tariff and a quota on its imports, respectively. 12 marks) b. Would consumers prefer a tariff or a quota in the above situation? (2 marks) Answers p. 150 1. They mainly want to cut the volume of imports so as to protect their domestic industries. Moreover, imposition of duties on imported goods may raise government revenue. . The imposition of duties will raise the domestic price of imported goods, reduce the volume of imports, lower the consumer surplus of domestic consumers, but increase the producer surplus of domestic producers. 3. Many of Hong Kongs imports do not have domestic substitutes, e. g. , water, food, raw materials. Moreover, the image of a free port facilitates Hong Kongâ₠¬â„¢s negotiation with its trading partners to reduce their trade barriers. On the whole, free trade brings more benefit than harm to Hong Kong. p. 151 Discuss 12. 1 After tariffs are imposed, the domestic prices of imports rise. By the law of demand, people will buy fewer units of imports. After the imposition of quotas, the maximum quantities of imports allowed are smaller than the equilibrium quantities. As a result, the quantities of imports will drop. As people buy fewer units of imports, they buy more units of domestic goods as substitutes for imports. Hence, domestic industries are protected. p. 154 Discuss 12. 2 No. With free trade, domestic prices drop and domestic consumption rises. As a result, the consumer surplus increases, as illustrated by Area (C + E) in Fig. 12. 3. Hence, domestic consumers of imports gain. However, domestic prices drop and domestic production falls. As a result, the producer surplus decreases, as illustrated by Area C Therefore, free trade does not benefit everybody. However, on the whole, as consumers’ gains are greater than producers’ losses, the total social surplus increases, as illustrated by Area E in Fig. 12. 3. Test Yourself 12. 1 At domestic prices below (Pw + t), since the price cannot cover the cost [i. e. the world price (PW) plus tariff (t)], importers are not willing to supply the good. Only domestic producers with MC domestic price will supply. This portion of the supply curve is represented by line segment ae. Since the domestic economy is a small open economy, it cannot affect the world price (PW) no matter how many units it imports. At the domestic price of (Pw + t), since the price can cover the (constant) cost, importers are willing to supply as many units as consumers desire without raising the price. Even if demand increases, the domestic price will not rise above (Pw + t). Hence, the supply curve turns horizontal at Point e (represented by line segment eg). How to cite Answer to exercises, Papers

Answer to exercises Free Essays

Why does the Hong Kong Government impose duties on very few types of imports? p. 151 Discuss 12. Explain how the imposition of tariffs and quotas may restrict international trade and rotect domestic industries. We will write a custom essay sample on Answer to exercises or any similar topic only for you Order Now p. 154 12. 2 ‘Free trade benefits everybody in an economy. ‘ Do you agree? Explain. Test yourself Refer to Fig. 12. 5. Explain why the supply curve after the imposition ofa unit tariff t is represented by the line abeg (Hint: Find out the quantities supplied at domestic prices below, equal to and above (Pw + t), respectively). p. 160 12. 3 Who would gain and who would lose under a quota? Fill in the following table with a in the appropriate box and account for them. Lose Reasons The importing country which imposes a quota Consumers Producers of import-competing industries The government The exporting faces a quota Producers of exports How do trade barriers imposed on the exports of the mainland of China also adversely affect Hong Kong? pp. 173-176 Exercises Multiple Choice Questions Free trade A. benefits all domestic consumers and producers. B. benefits domestic consumers of imports but harms domestic producers of import- competing industries. C. benefits domestic consumers of exports but harms domestic producers of exports. D. arms all domestic consumers and producers. Which of the following descriptions about trade barriers is INCORRECT? A. A tariff is a ax imposed on imports. B. A quota is a maximum limit imposed on the quantity of imports. C. An export subsidy is a government grant on exports. D. Exchange control is the government control over exchange rates, i. e. the prices of foreign currencies in terms of domestic currency. Which of the following is an effect of a quota? A. A quota shifts the supply curve of the imported product upwards. B. A quota reduces both domestic consumption and domestic production. C. A quota raises the quality of the imported product. D A quota raises the world price of the imported product. 4. Refer to the following diagram. The deadweight loss brought by a tariff is represented by A. Area (E + G). B. Area (H + D+ B). c. Area (B + q. Under the individual visit scheme, many individuals from the mainland of China travel to Hong Kong. This increases Hong Kongs (1) domestic exports of goods. (2) re-exports of goods. (3) exports of services. (4) imports of goods. A. (2) only B. (3) only C. (3) and (4) only D. (2) and (3) only 8. Which of the following descriptions about Hong Kongs attempts to face challenges in foreign trade is INCORRECT? A. Introduction of the Mandatory Provident Fund to improve the welfare of workers B. Improving productivity through capital investment as well as research and development C. Relocating land-intensive and labour-intensive production processes to the mainland of China and other low-cost economies D. Participating actively in international organisations and conferences to promote international trade Short Questions Country A imports Good X and exports Good Y. Suppose the world price of Good X is lower than the domestic price of Good X in Country A under autarky. With the help of TWO diagrams, compare the situation without trade and the situation with trade and show the gains from trade. Do all domestic consumers and domestic producers benefit from trade? (8 marks) b**. Suppose the world price of Good Y is higher than the domestic price of Good Y in Country A under autarky. With the help of TWO diagrams, compare the situation domestic consumers and domestic producers benefit from trade? 8 marks) With the help of a diagram, illustrate why the imposition of a quota would benefit domestic producers but harm domestic consumers and bring a deadweight loss to an economy. (8 marks) Structured Questions Trade Organization, China has to reduce its tariff on cotton. Suppose the world price f cotton remains unchanged after the tariff reduction. a. With the help ofa diagram, illustrate how the reduction in the tariff affects the domestic price, domest ic consumption, domestic production and volume of imports of cotton. (7 marks) b. How does the tariff reduction affect the consumer surplus, producer surplus, government revenue and total social surplus? (5 marks) a. Compare the effects of an increase in domestic demand on the domestic price, domestic consumption, domestic production and volume of imports if a country imposes a tariff and a quota on its imports, respectively. 12 marks) b. Would consumers prefer a tariff or a quota in the above situation? (2 marks) Answers p. 150 1. They mainly want to cut the volume of imports so as to protect their domestic industries. Moreover, imposition of duties on imported goods may raise government revenue. . The imposition of duties will raise the domestic price of imported goods, reduce the volume of imports, lower the consumer surplus of domestic consumers, but increase the producer surplus of domestic producers. 3. Many of Hong Kongs imports do not have domestic substitutes, e. g. , water, food, raw materials. Moreover, the image of a free port facilitates Hong Kongâ₠¬â„¢s negotiation with its trading partners to reduce their trade barriers. On the whole, free trade brings more benefit than harm to Hong Kong. p. 151 Discuss 12. 1 After tariffs are imposed, the domestic prices of imports rise. By the law of demand, people will buy fewer units of imports. After the imposition of quotas, the maximum quantities of imports allowed are smaller than the equilibrium quantities. As a result, the quantities of imports will drop. As people buy fewer units of imports, they buy more units of domestic goods as substitutes for imports. Hence, domestic industries are protected. p. 154 Discuss 12. 2 No. With free trade, domestic prices drop and domestic consumption rises. As a result, the consumer surplus increases, as illustrated by Area (C + E) in Fig. 12. 3. Hence, domestic consumers of imports gain. However, domestic prices drop and domestic production falls. As a result, the producer surplus decreases, as illustrated by Area C Therefore, free trade does not benefit everybody. However, on the whole, as consumers’ gains are greater than producers’ losses, the total social surplus increases, as illustrated by Area E in Fig. 12. 3. Test Yourself 12. 1 At domestic prices below (Pw + t), since the price cannot cover the cost [i. e. the world price (PW) plus tariff (t)], importers are not willing to supply the good. Only domestic producers with MC domestic price will supply. This portion of the supply curve is represented by line segment ae. Since the domestic economy is a small open economy, it cannot affect the world price (PW) no matter how many units it imports. At the domestic price of (Pw + t), since the price can cover the (constant) cost, importers are willing to supply as many units as consumers desire without raising the price. Even if demand increases, the domestic price will not rise above (Pw + t). Hence, the supply curve turns horizontal at Point e (represented by line segment eg). How to cite Answer to exercises, Papers