2%) than it imports (4.9%). (CIA - the world factbook) However, the country would be worse off because it would not be trading with the countries that have comparative advantage in producing certain agricultural products and certain products could become scarce and more costly or unavailable.
Food trade has important economic implications because it impacts Gross Domestic Product (GDP), the total market value of all final goods and services produced with a country. One of the components for calculating GDP is exports minus imports. Thus, when a country exports more food than it imports, it increases its GDP and when a country exports less than it imports GDP goes down.
The United States currently imports more than it exports. Estimates for 2007 show imports to be $1.987 trillion while exports were $1.14 trillion (CIA - the world factbook). In addition to agricultural products, U.S. imports in 2003 included industrial supplies...
Exports in the same year included industrial supplies (organic chemicals) 26.8%, capital goods (transistors, aircraft, motor vehicle parts, computers, telecommunications equipment) 49.0%, and consumer goods (automobiles, medicines) 15.0% (CIA - the world factbook).
Bibliography
CIA - the world factbook. Retrieved from https://www.cia.gov/library/publications/the-world-factbook/geos/us.html#Econ
State fact sheets: Florida.U.S.Department of Agriculture. Retrieved at http://www.ers.usda.gov/StateFacts/FL.htm
Overview of Florida agriculture. Florida Department of Agriculture and Consumer Services. Retrieved at http://www.florida-agriculture.com/agfacts.htm
Trade and agriculture What's at stake for Florida. U.S. Department of Agriculture. Retrieved at http://www.fas.usda.gov/info/factsheets/WTO/states/fl.pdf
In developing countries, consumers are more affected for two reasons. One is that consumers are more likely to buy raw ingredients. Without manufacturing entities to absorb some of the commodity price increases, consumers are left to absorb almost all of the increase (Ibid.). As a result, food prices have increased more in the developing world than in the developed world. Additionally, consumers in these countries already expend a significantly higher
3) (Merrett, 1998, p. 238) the larger companies seem to have an endless level of access to labor and capital, creating a stable situation, as they often seek marginalized areas with easy access to supplies that are otherwise labor rich, but job poor. (Merrett, 1998, p. 238) Buyers: Buyers are significant only in that, buyers for beer are in every corner of every market, tough they play a much more significant
Global Business Cultural Analysis Nigeria Nigerian History Synopsis of Nigerian government Nigerian monarchy to presidential system The evolution of Nigeria from British control to a civilian democratic government Nigerian major commodities Oil Food The major elements and dimensions of culture in Nigeria Cultural dimensions Individualism Power distance Masculinity Uncertainty Model of culture Universalism or Particularize How is the integration of elements and dimensions that Nigerians doing business in the country? The effects of governments on the prospects for its business around the world How the elements and dimensions compared
Despite the positive contributions they generated upon the culture and economy of Singapore, the foreign citizens, mainly Chinese, have also given birth to some less pleasant effects. In terms of education and healthcare, the costs of these types of services increased and in the future could materialize in increased fiscal pressure as a means of covering the expenditures. The housing sector has also been impacted in two manners -- structurally,
Amnesty International (2010) also reports that domestic violence is the major cause of death and disability for women ages 16 to 44 years. Of course, there isn't any forgetting that women in Colombia and Darfur -- places of dangerous armed conflict -- are commonly raped. Amnesty International also notes that the trafficking of women has become a global issue; women are exploited sexually, raped, forced into hard labor and are
In contrast, if countries began immediately to reduce greenhouse gas emissions, the cost could be limited to approximately one percent of global GDP each year. Global warming is a scientific issue, but it is being treating as an economic and political one. The Kyoto Protocol should never have allowed economic considerations to justify exemptions. This only gives incentives for companies to move to countries with exemptions to take advantage of