The purpose of this assignment is to become familiar with the terms import and e
ID: 1251765 • Letter: T
Question
The purpose of this assignment is to become familiar with the terms import and export, and then discuss advantages or disadvantages of buying imports versus buying domestic products in relation to the fashion industry.
•First, post the definitions of import and export, and give examples of a chosen company and product for 1 import and 1 export item.
•Advocate either buying imports or buying domestically for retailing the item.
•Describe in detail 2 arguments to defend your point of view.
•Comment on another student's posting.
Your response should be free of grammatical errors, use complete sentences, and give specific details to support statements made. Include any citations in APA style.
Explanation / Answer
The purpose of this assignment is to become familiar with the terms import and export, and then discuss advantages or disadvantages of buying imports versus buying domestic products in relation to the fashion industry.
•First, post the definitions of import and export, and give examples of a chosen company and product for 1 import and 1 export item.
IMPORT:
EXPORT:
COMPANY: STARBUCKS
Import: Coffee Beans
Export: Packaged Coffee
•Advocate either buying imports or buying domestically for retailing the item.
I'd advocate purchasing imports. Not only does this allow the company to pay a more competitive (cheaper) price, but it also helps keep our domestic economy competitive with foreign economies. My rationale is as follows:
(1) Companies like Starbucks pay a cheaper price on imports than on domestic goods. This allows the companies to make greater profits and benefit our domestric economic outlook. Lower prices also allow the comapnies to hire more employees and pay them more.
(2) Importing raw materials allows companies like Starbucks to focus on more comprehensive, difficult, and expensive work - work that will produce greater yields to our domestic economy and, in effect, boost our GDP. By directing our resources away from the production of cheap goods and towards the manufacture and service of complex goods and services, we redirected our efforst to that where there is most profit to gain. We get "more bang for our buck," so to speak.
Your response should be free of grammatical errors, use complete sentences, and give specific details to support statements made. Include any citations in APA style.
SOURCE: http://www-personal.umich.edu/~alandear/glossary/i.html (add the APA citations via www.easybib.com)
1. A good that crosses into a country, across its border, for commercial purposes.
2. A product, which might be a service, that is provided to domestic residents by a foreign producer.
3. To cause a good or service to be an import under definitions 1 and/or 2.
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