Thursday, May 21, 2020

Economics Questionnaire - 989 Words

1. A legal maximum on the price at which a good can be sold is called a? price ceiling. 2. Which of the following is likely to have the most price elastic demand? Breakfast cereal, corn flakes 3. A reduction in a country s barriers to trade? benefits some citizens of the importing country but does not benefit the domestic producers in the importing country. 4. The amount of a good that buyers are willing and able to purchase is quantity demanded. 5. Suppose a market in which demand is more elastic than supply. The incidence of a tax will? fall more heavily on sellers than buyers. 6. Suppose there is a frost that destroys much of the strawberry crop and the price of blueberries, a substitute for strawberries, increases. What would we†¦show more content†¦26. If price elasticity of demand is less than one? increasing the price of the product will increase total revenue. 27. Sue can produce 4 dozen cookies or 2 dozen cupcakes in one hour. David can produce 6 dozen cookies or 4 dozen cupcakes in one hour. A producer that requires fewer resources to produce a good is said to have? a comparative advantage, a straight line production possibilities frontier 28. A tax levied on buyers has the same effect on the price the buyer pays as an equal magnitude tax levied on sellers. TRUE 29. A price floor set below the market equilibrium price? is a non-binding price floor. 30. One producer can have the comparative advantage in both products, but cannot have the absolute advantage in both products? FALSE 31. When the minimum wage is set above the equilibrium wage it is a binding price floor that results in a surplus of labor 32. A decrease in quantity supplied is shown as a movement from? point B to point A 33. Imports are goods? produced abroad and sold domestically 34. Goods with a positive cross price elasticity are? substitutes. 35. An increase in supply is shown as a movement from? point A to point B, point B to point A 36. A market with only one seller is called a monopoly market. TRUE 37. If the government were to impose a tax on cigarettes, the tax incidence will likely fall moreShow MoreRelatedUkay-Ukay3603 Words   |  15 PagesIII: Methodology Research Locale 8 Research Design 8 Research Instrument 8 Research Respondents 9 Data Gathering Procedure 9 CHAPTER IV: Research Results 10 CHAPTER V: Summary 14 Conclusion 15 Recommendation 16 Bibliography 17 Appendix Survey Questionnaire 18 Letter to the Respondents 20 ACKNOWLEDGEMENT The researchers would like to express our deepest gratitude to the following that helped us make this research possible: First, to our Almighty Father who gave us wisdom, motivationRead MoreSelf Help Group Of Rural Assam912 Words   |  4 Pagesempowerment is a universal issue. Women empowerment refers to the creation of an environment for women where they can make decisions of their own for their personal benefits as well as for the society. 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He hoped that if we had understood human nature closely we could have avoided the destruction brought by the 1st and 2nd world wars. Similarly, it would bring mankind closer to solving global political and economic problems. To understand personality scientifically he established a formal frame work and used statistical techniques, factor analysis. Initially, he started 4500 adjectives that describe human personality which are taken from English dictionaryRead MoreImpact of Remittance Due to Immigration in Nepal1607 Words   |  6 PagesImpact of Remittance due to Immigration in Nepal Background Movement of people to other countries in search of employment is by no means a new phenomenon. Labor mobility has been an important and essential feature of the economic and social development of societies throughout human history. People are moving from one place to another since time immemorial and the continuous movement has been an international phenomenon. Such movement of the people from one place to another can be attributed to theRead MoreJapan: Corporate Governance Research Methodology1343 Words   |  6 PagesIn our study of corporate governance and its impact on the overall economic and business environment, we have considered the example of Japanese Corporate governance and have compared it with other systems. We will study the comparative performances of the companies working in the Japanese system of corporate governance and the organizations working in other systems of corporate governance, primarily that of the United States. We have discussed the concept of corporat e governance as well as management

Wednesday, May 6, 2020

Supply Chain Management of Square Pharmaceutical Ltd

THE SUPPLY CHAIN PROCESS OF SQUARE COMPANY of Bangladesh: AN ANALYSIS Mohammad Jamal Uddin * Supply chain management (SCM) is the oversight of materials, information, and finances as they move in a process from supplier to manufacturer to wholesaler to retailer to consumer. Supply chain management involves coordinating and integrating these flows both within and among companies. It is said that the ultimate goal of any effective supply chain management system is to reduce inventory and Communication is the transmission of information from one group or individual to another. Business communication is very essential now days to make contacts with people and for trading. Whenever a business wants to make a good business proposal or†¦show more content†¦Increasing numbers of companies are turning to Web sites and Web-based applications as part of the SCM solution. A number of major Web sites offer EProcurement marketplaces where manufacturers can trade and even make auction bids with suppliers. Basic research question of the study is whether Square Company as a whole can manage supply chain properly? Definition Of Communication Or Sharing Information A modern communications system is first concerned with the storing, processing and sometimes storing of information before its transmission. The actual transmission then follows, with further processing and the filtering of noise. (KENNEDY, 1998) Communication must include both the transference and understanding of meaning. (ROBBINS, 2003). Communication is the transmission of information and meaning from one individual group to another. (GUFFY, 2000). Communication means encoding the idea or concept and getting the feedback of how the receiver is decoding the idea or concept. Therefore without feedback no communication will happen or exist. (HUSSAIN, 2005) We said communication is â€Å"how we share any information with others†. So, we can define communication as a transfer of meaningful message to the receiver with the hope to receive a feedback. AN Overview OfShow MoreRelatedOverview of SQUARE pharmaceuticals LTD2777 Words   |  12 Pagesï » ¿ Introduction: Square Pharmaceuticals Ltd. (SPL) has been the trendsetter in Bangladesh Pharmaceutical Market since its inception in 1958. Over the last decade SPL actually rose to a new standard moving beyond manufacturing quality medicines to win mindshare of patients, physicians, shareholders, business partners, and communities where we work and live. Our dedication to addRead MoreThe Supply Chain Department of Square Pharmaceuticals1274 Words   |  6 PagesResource Management (HRM) concept and true functionality have taken their final shape in Bangladesh. 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Overview of the Company: SQUARE today is a name not only known in the Pharmaceutical world, it is today aRead MoreSquare Pharma Product Marketing5713 Words   |  23 Pages Square Pharmaceutical Limited-Bangladesh Company Profile: |    | SQUARE today symbolizes a name – a state of mind. But its journey to the growth and prosperity has been no bed of roses. From the inception in 1958, it has today burgeoned into one of the top line conglomerates in Bangladesh. Square Pharmaceuticals Ltd., the flagship company, is holding the strong leadership position in the pharmaceutical industry of Bangladesh since 1985 and is now on its way to becoming a high performance global playerRead MoreHuman Resource Management at Square Pharmaceuticals in Bangladesh1267 Words   |  6 PagesResource Management (HRM) concept and true functionality have taken their final shape in Bangladesh. The companies in Bangladesh have realized the main role of HRM as vital component in the development mechanism of any organization to achieve its targets and main objectives, and to get competitive advantage (Islam 2006) . Therefore, all HRM responsibilities , contributes are being recognized as crucial as all other organization departments (Isl am 2006). This paper focus is going to be the Supply ChainRead MoreBusiness Research Methodology - How to Write Research Purpose, Objectives and Summary1536 Words   |  7 PagesObjectives and Summary Syed Qasim MBA Question No. 1 State research purpose, objectives and summarize each article with reference (i.e. literature review format). Case Study No-1 Human Resource Management Practices: A Case Study of the Supply Chain Department of Square Pharmaceuticals Ltd. 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Belonging and Community Free Essays

What is my current understanding of belonging and community? Well id have to say belonging is a big thing to teens and most people believe you have to dress a certain way or do something to fit into there apparent â€Å"community† but I definitely dont care what others think. Community to me is my friends family and people who mean alot to me. However that isnt the correct meaning, community is a bunch of people living in a certain area. We will write a custom essay sample on Belonging and Community or any similar topic only for you Order Now I like to think my idea of a community is how it should be. How did I come to this understanding of my thinking? Well I dont fully know, its mainly values and thoughts that ive collected and made in my mind while growing older. Many things probably come from my dad hes a great man with alot of good values and he helped shaped who I am today. My mother also taught me alot of good values and also helped shaped who I am. I definitely can’t give all the credit to them I have to give some of it to my friends to they have great ways of thinking and are very great people. Thats not all though alot of these ways of thinking come from me and thoughts I think in my head of how the world should be. What are views of others regarding belonging and community? Many of my peers think belonging means trying to be like someone else and fitting into something they like to think is a community. Why is community important in our society? Well without community what do we actually have? A whole lotta nothing really, without community how would we have friends like we have today? Id say without community were very isolated and us ourselves wouldnt be the people we are today. Do you feel we need to have communites? No, We dont absolutely need communities we can just be zombies wandering in no general life direction. Seriously I think we need communitys cause our friends, family and such they are there when you need them. What happens if you have non of that and are in a bad situation? Well you arent able to stay emotionally stable and lose any sort of ambition or heart you have. You crash and fall and have no one to pick you back up again least thats how I feel. If we didnt belong to a community what would we be missing out on? Id have to say we would be missing out on many different things. We would be missing out on our chances to socialize and not be so isolated. We would be missing out on learning certain morals and life choices. We would miss out on having many different friends who help us go through all the crap teenagers have to go through. I also think without communities alot of people wouldnt have much ambition to try hard I know I wouldnt at least. What kinds of communities do I belong to? I belong to quite a few communities if you go by the definition of others. Communities such as school, area district, working community. Thats not community to me though community to me would be my friends and family. I gotta say my group of friends is one of the most important types of community to me cause we have eachothers backs through thick and thin. Even more important family cause seriously without family where would you be right now? Not here thats for sure. How to cite Belonging and Community, Essay examples

Saturday, April 25, 2020

What is an American free essay sample

To say simply that an American is whoever is born here or who has taken an oath of citizenship is like saying that the Bible or a contract is just ink markings on paper. It is true that a Bible is ink markings on paper, but it is not just that. And if America is just the sum total of those people we call citizens, then we have deconstructed or dumbed-down our ideals. The American Dream for most people includes nice things (new car, phone, TV, etc.) the problem with this dream is that it’s always just a little out of reach. Although there are dreams that come true but, to me I think no one may experience their American Dream. To me there is no exact way to define an American. In my opinion an American is someone who believes in hard work, equality and will reach for opportunities even when you dont know there is one. We will write a custom essay sample on What is an American? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Although the American spirit can not be captured with only three topics, it will have to do. Although hard work is, wellhard it may be essential to achieving your â€Å"dream†. Hard work must be the key to success. No one has a successful life by their definition without doing a little hard work. â€Å"Immigrants have no assurance of success in a new land with different habits, institutions and language.† But they, like all Americans, understand that the timid achieve nothing and forgo even that which sustains us through the worst times: hope. Immigrants founded this country in the late 1400s. They had no idea what was ahead of them and yet they saw what it could be and went for it. Immigrants are America, they come to this country for a better life and will work till they break bones to get it. Immigrants are the essence of hard work. Without equality the minorities would have a rougher time than they do now. Equality is about creating a â€Å"fair† society where everyone can participate and has the opportunity to fulfill their own potential. â€Å"We hold the truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable rights, that among these are Life, Liberty, and the pursuit of Happiness.† This is a direct quote from the engrossed copy of the Declaration of Independence. With equality in the field of play everyone will have an equal opportunity at the same job as long as they both meet the required skills for the job. This may not be true all the time however but you still are born with the right to be equally treated as the next person. However, that does not mean people will treat you the same as the next person. It’s up to you to decide how you are treated affects you. Taking opportunities is an important thing for most of our lives. Without opportunities we would have to rely on only ourselves and not each other. When someone earns an opportunity it may lead to experiences you’ve never had and that will forever change you. â€Å"An American is anyone who loves life enough to want the best it has to offer. â€Å"Americans are not automatically satisfied with their current situation.†What the author (Huggins) is saying here is that as an american you should never be truly satisfied with your current situation. Americans take opportunities when they are given them for an abundance of reasons. For one they may be in need of a helping hand or . Regardless of the reasons opportunities present a benefit in life that we may all need some day. Although some Americans may never have worked as hard as they can for their success, the fact that they even try to do better than what they have, that is how you make your American dream. Its the idea of you taking the hand you were dealt and squeezing everything you can out of it. Being an American comes with certain â€Å"responsibilities† that require certain people to work much harder than others. Your job as an American is to take your â€Å"responsibilities† and achieve your goals in life.

Wednesday, March 18, 2020

Major Samuel Nicholas, USMC in the American Revolution

Major Samuel Nicholas, USMC in the American Revolution Samuel Nicholas - Early Life: Born in 1744, Samuel Nicholas was the son of Andrew and Mary Shute Nicholas. Part of a well known Philadelphia Quaker family, Nicholas uncle, Attwood Shute, served as the citys mayor from 1756-1758. At age seven, his uncle sponsored his admission to the noted Philadelphia Academy. Studying with the children of other prominent families, Nicholas established important relationships which would aid him later in life. Graduating in 1759, he earned entry into the Schuylkill Fishing Company, an exclusive social fishing and fowling club. Samuel Nicholas - Rising in Society: In 1766, Nicholas organized the Gloucester Fox Hunting Club, one of the first hunt clubs in America, and later became a member of the Patriotic Association. Two years later, he married Mary Jenkins, the daughter of a local businessman. Shortly after Nicholas married, he took over the Connestogoe (later Conestoga) Wagon Tavern which was owned by his father-in-law. In this role, he continued to build connections across Philadelphia society. In 1774, with tensions building with Britain, several members of the Gloucester Fox Hunting Club elected to form the Light Horse of the City of Philadelphia. Samuel Nicholas - Birth of the US Marine Corps: With the outbreak of the American Revolution in April 1775, Nicholas continued to operate his business. Though lacking in formal military training, the Second Continental Congress approached him late that year to aid in establishing a marine corps for service with the Continental Navy. This was largely due to his prominent place in Philadelphia society and his connections to the citys taverns which Congress believed could furnish good fighting men. Agreeing, Nicholas was appointed Captain of Marines on November 5, 1775. Five days later, Congress authorized the formation of two battalions of marines for service against the British. With the official birth of the Continental Marines (later US Marine Corps), Nicholas had his appointment confirmed on November 18 and was commissioned as a captain. Quickly establishing a base at Tun Tavern, he began recruiting Marines for service aboard the frigate Alfred (30 guns). Working diligently, Nicholas raised five companies of Marines by the end of the year. This proved sufficient to provide detachments for the ships of the Continental Navy then at Philadelphia. Samuel Nicholas - Baptism of Fire: Having completed recruiting, Nicholas took personal command of the Marine Detachment aboard Alfred. Serving as Commodore Esek Hopkins flagship, Alfred departed Philadelphia with a small squadron on January 4, 1776. Sailing south, Hopkins elected to strike at Nassau which was known to have a large supply of weapons and munitions. Though warned of a possible American attack by General Thomas Gage, Lieutenant Governor Montfort Browne did little to bolster the islands defenses. Arriving in the area on March 1, Hopkins and his officers planned their assault. Coming ashore on March 3, Nicholas led a landing party of around 250 Marines and sailors. Occupying Fort Montagu, he paused for the night before advancing to occupy the town the next day. Though Browne had managed to send the bulk of the islands powder supply to St. Augustine, Nicholas men captured a large number of guns and mortars. Departing two weeks later, Hopkins squadron sailed north and captured two British ships as well as fought a running battle with HMS Glasgow (20) on April 6. Arriving at New London, CT two days later, Nicholas traveled back to Philadelphia. Samuel Nicholas - With Washington: For his efforts at Nassau, Congress promoted Nicholas to major in June and placed him at the head of the Continental Marines. Ordered to remain in the city, Nicholas was directed to raise an additional four companies. In December 1776, with American troops forced from New York City and pushed across New Jersey, he received orders to take three companies of Marines and join General George Washingtons army north of Philadelphia. Seeking to regain some momentum, Washington devised an attack on Trenton, NJ for December 26. Moving forward, Nicholas Marines were attached to Brigadier John Cadwaladers command with orders to cross the Delaware at Bristol, PA and attack Bordentown, NJ before advancing on Trenton. Due to ice in the river, Cadwalader abandoned the effort and as a result the Marines did not take part in the Battle of Trenton. Crossing the next day, they joined Washington and took part in the Battle of Princeton on January 3. The campaign marked the first time that US Marines served as a fighting force under US Army control. Following the action at Princeton, Nicholas and his men remained with Washingtons army. Samuel Nicholas - The First Commandant: With the British evacuation of Philadelphia in 1778, Nicholas returned to the city and re-established the Marine Barracks. Continuing recruiting and administrative duties, he effectively served as commandant of the service. As a result, he is generally considered to be the first Commandant of the Marine Corps. In 1779, Nicholas requested command of the Marine Detachment for the ship of the line America (74) then under construction at Kittery, ME. This was denied as Congress desired his presence in Philadelphia. Remaining, he served in the city until the service was disbanded at the end of the war in 1783. Samuel Nicholas - Later Life: Returning to private life, Nicholas resumed his business activities and was an active member in the State Society of the Cincinnati of Pennsylvania. Nicholas died on August 27, 1790, during a yellow fever epidemic. He was buried at the Friends Graveyard at Arch Street Friends Meeting House. The founding officer of the US Marine Corps, his grave is adorned with wreath during a ceremony each year on November 10 to mark the services birthday. Selected Sources Major Samuel Nicholas USS Nicholas: Samuel Nicholas

Sunday, March 1, 2020

Schrenker Faked Death to Escape Financial Trouble

Schrenker Faked Death to Escape Financial Trouble Wealthy business owner and money manager Marcus Schrenker made headlines in January 2009, when he attempted to escape the consequences of frauding investors by parachuting out of his small one-engine prop plane in an attempt to fake his death. At one time, Marcus Schrenker had everything. He owned three investment consulting firms, lived with his wife and children in the exclusive Indianapolis suburb of Geist, in a $3 million dollar waterfront home that had a dock and a large swimming pool. Flying was a hobby of his and he owned two aircraft which he used to go on lavish vacations. But in January 2009, it all came crashing down. Idyllic Life on the Outside Marcus Schrenker was born on November 22, 1970.   He grew up in Merrillville, Indiana which is located in the Chicago metropolitan area. In 1989 Schrenker graduated from Merrillville High School, and then went to college at Purdue University. It was at Purdue that he met (former wife) Michelle, married and together they had three children together. As idyllic as the Schrenkers life appeared, there was also a dark side that those who lived with Marcus or around him were very aware of to the point of feeling discomfort when he was around. Schrenker would go from being friendly and charismatic to angry, unreasonable and combative. And, according to his neighbor Tom Britt in an interview with, episodes of this type of erratic behavior became more frequent as he grew older. Diagnosed with bipolar disorder, Schrenker did what many with this disorder do, he would often stop taking his medication, and Michelle, their children, and investors would end up paying the price. Savvy Financial Investor Turned Crook Schrenker owned three financial companies: Heritage Wealth Management, Heritage Insurance Services, and Icon Wealth Management.   His wife Michelle was paid $11,600 as the chief financial officer of the three companies and bookkeeper. She was also on the bank account of Heritage Insurance Services, which gave her the authority to write checks and withdraw money. But in 2008 Schrenker was under investigation in Indiana after several complaints were lodged by some of his investors, upset with how he was handling their money. Friends, the parents of friends and neighbors were among the investors that filed complaints. Michelle had also filed for divorce on December 20, 2008, after learning of her husbands infidelities with a woman who worked at the airport. Investors Supported Lavish Lifestyle Unknown to Schrenker, he had been under investigation for 10 years for various lawsuits that had been filed against him. Then on December 31, 2008, state investigators armed with a search warrant, seized computers, several plastic tubs filled with paperwork, the Schrenkers passports, over $6,000 in cash, and the title to a Lexus, from the Schrenkers home. On January 6, 2009, Schrenker was charged with unlawful acts by a compensated adviser and unlawful transaction by an investment adviser. Bail was set at $4 million.   According to Jim Atterholt, who was the State Insurance Commissioner, Schrenker charged investors exorbitant surrender charges after he moved them out of one annuity and into another. The investors were not told in advance about the fees.   Three days later, on January 9, Schrenkers company Heritage Wealth Management Inc. was issued a $533,500 judgment after a federal court in Maryland ruled in favor of OM Financial Life Insurance Co. The lawsuit contended that Heritage Wealth Management was involved in insurance irregularities and should have returned commissions of more than $230,000. Plane Crash   On Sunday, January 11, 2009, Schrenker flew off from an airfield in Anderson, Indiana in his single-engine Piper. He listed his destination as Destin, Florida. As he neared Birmingham, Alabama, he put out a fake mayday signal and told air traffic controllers that he had been badly injured and was bleeding profusely after the windshield of the plane imploded.Afterward, he put the plane on autopilot and parachuted out. Military jets attempting to intercept the plane reported that the door of the plane was opened, and the cockpit was dark and appeared empty. The jets followed the unmanned plane which crashed over 200 miles later in a swamp in Santa Rosa County, Florida, around 50 yards from a residential area.   After the crash, the plane was found somewhat intact. Investigators searched the plane and reported that there was no blood inside of it and the windshield was completely intact. Authorities put out a warrant for Schrenker arrest. On the Run Schrenker plan was to fake his death and make a run for it. On January 10, the day before he parachuted out of his plane, he drove to Harpersville, Alabama and stashed a motorcycle, money and other supplies in a storage facility. He informed the owner of the facility that he would return Monday. Once Schrenker parachuted to the ground, he made it to Childersburg, Alabama, where at 2:30 a.m. he asked for help from a private resident. He told the resident that he had been in a canoeing accident. He was given a ride to the nearest town and went to the local police station.   He gave the police the same story about being in a canoe accident, and after producing his (surprisingly) real identification, the police drove him to a hotel where he registered under a fake name and paid cash for the room. The following morning, after hearing about the plane crash and that Schrenker was on the run, the police returned to the hotel, but he was gone. Schrenker managed to walk undetected to Harpersville and retrieved his motorcycle then rode it a KOA Campground in Quincy, Florida. There he bought a tent site for one night, wood, a six-pack of Bud Light Lime and was given access to the campgrounds wireless access. Embarrassed and Scared On January 12, Schrenker emailed his friend, Tom Britt, and wrote that the crash was a misunderstanding and that he was too embarrassed and scared to return home, so instead checked into the hotel. He went on to say that he would soon be dead.   On the same day, a Hamilton County Superior Court judge froze both Marcus and Michelles assets. Capture The campground owners were contacted by the sheriff, who wanted to know if there was anything unusual going on there. They told the sheriff about the man who had checked in the previous day but had not checked out.  Soon afterward, U.S. marshals swarmed the campground and found Schrenker, barely conscious and incoherent, lying inside the tent. He had lost a lot of blood from a self-inflicted cut on his wrist and an area near his elbow. He was flown to Tallahassee Memorial Hospital. On January 13, Schrenker was arrested and charged in federal court in Pensacola, Florida, with deliberately crashing his plane and making a fake distress call.   Trials and Sentencing February 5, 2009A man in Dothan, Alabama was granted $12 million after an Alabama judge ruled in his favor that Schrenker had sold him a defective airplane. June 5, 2009  Schrenker pleaded guilty to intentionally crashing his plane as a way to escape his mounting financial and legal problems. He was sentenced two months later to four years and three months in prison, $34,000 in restitution to the Coast Guard for its search and rescue efforts and $871,000 in restitution to Harley-Davidson, the lienholder of the plane. Schrenker later pleaded guilty to three counts of securities fraud and two counts of working as an investment banker without being registered. He was given a 10-year prison sentence to run consecutively with the previous sentence for the fake plane crash, and he also had to pay $633,781 in restitution. Six Years Later Schrenker was released from prison on September 18, 2015.

Friday, February 14, 2020

Credit Counterparts of Broad Money Essay Example | Topics and Well Written Essays - 500 words

Credit Counterparts of Broad Money - Essay Example This paper illustrates that the effect of a government loan to another government is a reduction in the money supply in the economy. Based on the IS-LM model, it is apparent that reducing the supply of money shifts the LM curve to the right thus moving the equilibrium interest rate upwards and the level of national output downwards. On the macroeconomic level, the government can use this item of the Broad money counterparts as a macroeconomic policy to curb inflation or unsustainable increases in national output. The policy can be used as a contractionary fiscal to reduce excess liquidity in the economy and control inflation. Excess liquidity refers to a situation where the money being held by the public is in excess inducing excess spending and hence excess demand. The excess demand to supply can cause an unhealthy price increase. Foreign reserves are adjusted using the surpluses of trade that is a stimulus to increase exports thus increasing the foreign reserves while an increase i n imports decreases the foreign reserves. Changes in foreign prices in countries largely dependent on international trade have a significant effect on the money supply, inflation, and national output. The increase in the prices of imports will result in inflationary pressures in the economy. On the contrary, an increase in export prices will cause an increase in the profitability of the export goods and hence a shift of resources in the production of export goods. The change in import and export prices affects a countries balance of payment situation. The government can control national output and inflation through fiscal policies regulating imports and exports. When the balance of payment has been offset by over importation, the government can curb the inflationary effects by introducing higher tariffs that will adjust imports to a sustainable level.