Read the Label: Made Where? Microeconomics ECON 2023 Goals To become aware of th

Question

Read the Label: Made Where? Microeconomics ECON 2023 Goals To become aware of the global manufacturing economy To become sensitive to the impact on employees and customers in a global economy Part I Read the labels of 10 garments that you own to see where each was made. Fill in the information in the table below. Select at least four different types of clothing for your sample survey(shirts, pants, shoes, coats, hats, accessories,etc. Article of Clothing Brand Name Country of origin 4 6 10 Part II Some people are upset by the outsourcing of jobs in the United States to other countries and are concerned about deplorable working conditions in sweatshops. Yet, when students are asked if they would pay $5.00 more for a shirt that was made in the United States versus another country, the majority of students responded with a resounding NO! 1. Would you pay $5.00 more for a shirt made in the USA? Why or Why not? 2. Are we contributing to sweatshops by purchasing clothes made in other countries? 3. Are we helping poverty stricken people in developing countries to survive? 4. What is the impact of outsourcing on the US economy? 5. Are our ethics being verbalized one way and our actions in another way?

Explanation / Answer

               Second thing is, when our entrepreneurs will be profitable they will invest more money in            R&D for innovation which will decrease the price of products in future.

2. Answer: Nearly 80% of cloths are manufactures by workers under condition in U.S. so when we will buy indigenous cloths then the money will indirectly ( through supply chain network ) go to sweatshops in the form of salary, so poor people( workers ) will be benefited. This indicates we contribute to sweatshops.

3. Answer: Yes definitely, In most of times when developing countries were felt in natural diseases like tsunami, epidemic, flood, earth quicks, droughts; Americans take pride to help. Not only in natural disasters but also during war and economic depressions America come into front for help through negotiation or by economic support.

4. Answer: When goods or services will continuously outsource then money will flow outside the country boundary and Country’s property will going on decrease. Then country economy will be degrade. By this tax on every products will increase and price of every products accordingly increase .These will lead to increase of unemployment problems.

5. answer: A strong determination and good education is required for walk on ethics way in our life. Since our nation nurtures us in a bright way so we will serve our country from our best. As our predecessors did best, we will follow them and will serve our country.

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