BU352 Lecture Notes - Lecture 17: Masculinity, Purchasing Power Parity, Marketing Mix
Document Summary
The increased flow of g/s, people, technology, capital, information, and ideas around the world; has economic, political, social, cultural, and environmental impacts. Comparative advantage other countries might have things that you don"t have. High discretionary income (income left with people after they"ve taken care of necessities) for consumers in canada. Embargo: prohibits trading with a certain country or specific good by other countries. Tariffs: duty or tax; artificially raises price; lowers demand. Revenue tariffs: taxes put on imported g/s to earn money by the government. Protective tariffs: taxes put to protect domestic market. Quotas: maximum limit; reduces availability of imported goods. Both benefit domestically made products b/c they reduce foreign competition. Dissatisfied global consumers boycott g/s from certain country by consumers. Sanctions imposed by gov. vs. boycotts imposed by consumers. Groups such as ethical consumer publish current boycott lists. Exchange rate: value of your country"s currency in terms of other country"s currency. Exchange rate can be controlled by central bank.
