Posted: December 4th, 2013

Week 7 Q&A

Description: These are just questions and answers; no need for an essay or formal paper. Q1: The link CIA Factbook (https://www.cia.gov/library/publications/theworld-factbook/) is a source some students have already found. For the rest of you it is a fertile source of economic and political information about every
country in the world. Research Ecuador and check out the following: the country’s economic system the country’s stage of market development the
country’s attractiveness for consumer goods the country’s attractiveness for industrial goods anything else you found interesting Give a brief overview of
your country as it relates to the economic concepts discussed throughout the course. Q2: pro·tec·tion·ism (pr-tksh-nzm) n. The advocacy, system, or
theory of protecting domestic producers by impeding or limiting, as by tariffs or quotas, the importation of foreign goods and services. What do you think
about protectionism as a concept? Did the US ever practice protectionism as a national policy? What happened as a result? Are there any conditions under
which a country might consider protecting one of its industries? Can you give an example here in the US and describe why other countries may not be
pleased with those policies? On the other hand, are you totally against protectionism as a barrier to full free trade? Feel free to express your own opinions
or find some expert words of wisdom if you like to contribute to this discussion. Q3: Check out the World Trade Organization Home Page
(http://www.wto.org/) You might also want to check out some of the disputes past and present before the WTO. What do you think? Is the WTO effective
at policing world trade? Why or why not?
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