How to recalculate parameters to trade in India: Pfizer: Pharmaceutical Industry, business & finance homework help

User Generated

cyngavpx1

Business Finance

INT650

Southern New Hampshire University

Description

Recalculating Parameters: Select the previously identified trade barriers and change their parameters for your selected industry, making appropriate economic calculations and representing the changes in charts. A. Calculate the effect of the change of a tariff on your particular industry. Illustrate the change visually in a chart. B. Calculate the effect of the change of a quota on your particular industry. Illustrate the change visually in a chart. C. Calculate the effect of the change of a government subsidy on the overall GDP. Illustrate the change visually in a chart.

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Explanation & Answer

Done, thank you.

Running head: TRADE BARRIERS

1

Trade Barriers
Name of Student
Name of Professor
Course Title
Date

TRADE BARRIERS

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Trade Barriers
Trade barriers by definition are measures or restrictions that governments or public
authorities place on the exchange of goods and services to restrict international trade to make
imported goods and or services less competitive to domestic goods and services. These barriers
are usually in the form tariffs which are taxes or duties placed on goods imported on exported as
well as non-tariff s which is in the forms of quotas, export or import restraints, lack of copyright
and patent protection and restrictions of foreign direct investments (FDI) just to name a few
(Meritt, 2016). Many developed as well as developing countries have reduced tariffs and trade
barriers for the facilitation of trade. In so doing these countries have improved globalization by
engaging in multilateral agreements with each other by way of the World Trade Organization
(WTO) and sometimes outside of the WTO (Trade Council, n.d.).
India’s Trade
India is rated as the seventh largest economy nation globally but the country is ranked the
as the sixteenth largest exporter in form of value with its exports, which accounts for USD 336.6
billion. In contrast the country is the twelfth largest importer demanding USD 477.3 billion.
India tends to witness much less trade flow in comparison to both large and small saving such as
the United-States (US) and Singapore or even Germany. In the medicinal industry, the country in
the past has been blamed for imposing ce...


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