Question

At one time most products purchased in the U.S. were made in the U.S. Now many products you can purchase in the U.S. seem to be made in other countries.

1. State one way that increased sales of goods made in other countries in the U.S. has helped U.S. companies and/or workers and/or consumers?

2. State one way that increased sales of goods made in other countries in the U.S. has hurt U.S. companies and/or workers and/or consumers?

3. On balance, do you think increased sales of goods made in other countries in the U.S. has mostly helped or mostly hurt U.S. companies, workers, and consumers?

4. Name one way that you think U.S. companies can do to better compete with other countries?

Answer 1

Answer: 1- U. S is the world largest country that have potential for importing and exporting goods and services . U.S is the most advance country in the world , technology is very advance in U.S . if anyone wants to sale their product online than they can easily do . This will not only benefit the sellers but also the customers . U.S infrastructure is very well develop and market size is very large that will benefit the exporting country as well as importing country to sale and purchase of good . use of more and more tachnology for online buying and selling of goods and services is very effective one.

2 - increased sales of goods made in other countries in the U.S has hurt workers and consumers . As for example if a product is sold by some other countries in U.S than U.S imposed some restriction. Tariff imposed by U.S can increased the price of the product and consumers have to pay price high price. it will create inflation which will not good for the economy.

3- NAFTA that is North American free Trade Agreement benefited U.S economy in reducing barriers of trade , it also help to grow the GDP of the economy . It created many disadventage to the economy also due to NAFTA there were many job loss .NAFTA is for reducing the tarde barriers among U.S , Mexico and canada. U.S factories wages decreased . it hurt U.S economy alot .

4- To compete with the global market , it is very neccesary to know the home market condition . it is very important to know the level of competion and strength as well as weakness of the home market competitors and global competitors . Need to focus on the changing demand for the product and also compete accordingly . it will be good for the company to do some research about the international market and gain more and more knowledge about the preference of the consumer. it is very important to set the price of the product wisely.