"The Choice" Summary

List and explain the primary(prenominal) characters of The Choice. There were three main characters.
David Ricardo- A famous economist sent to educate Ed Johnson close to how free mess benefits everyone. He is a spot that must spread out his theory on free shell out.
Ed Johnson- The business owner of Stellar Television. He begins to fear the quick development of the Japanese manufacturing television sets.
Frank Bates- He is a Congressman who listens to Ed Johnsons ideas about preventing foreign guile on televisions (protectionism).

Why is Ricardo granted his request for touching round off? Ricardo is allowed to touch down after the heavens hear about Bates proposal. Ricardo had told the heavens he must intervene to prevent protectionism and prove his theory.

What is happening to the cost of a Stellar TV? downstairs Ed Johnsons proposal, He has not competition and his TV goes up in price. By preventing the Japanese from manufacturing more TVs to the US, Eds business stifles the delivery.

Why is Johnson savour guilty about helping Bates? Johnson begins to realize his ideas prevent the economy from getting better. He goes to the future and sees without his plan; his daughter and son argon living successful and impacting business in antithetic ways.

Is there a balance between exporting a manufactured good and exporting a service?



jibe to our book, no there is not. Ricardo states that when tourist come to the United States and decease money, they are involved in some form of trade.

What are three ways to reduce a trade shortfall?
Impose high anti dumping duties on countries that cope products below cost.
Import less
Export more

Define and explain the difference between free trade and fair trade. Free trade allows countries to choose the most efficient and valued ways to deputise products. There is no Government intervention. The market determines the price. Fair trade is where developed nations exporting pay a higher price to ensure fair pricing.

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