Global Supply Chains have been hit extensively by the Coronavirus SARS-CoV-2 (COVID19) pandemic affecting Global trade and Investment at an unprecedented speed and scale. This has been worsened by the reliance on China for most supplies causing most governments, businesses, institutions, and individual consumers with unprecedented shortages. The effect has been predicted to last for a few years.

The current situation calls for a radical change in procurement and modeling of supply chains. You are to recommend the critical change that either a public sector organization, Multinational company or a local firm needs in the management of their procurement strategies and processes taking cognizance of their Supply chains. You must factor in the relevant theories, strategies and tools in your recommendation.

In the United States, price floors are commonly used to support farmers, such as for dairy products. Assume several U.S. trading partners impose tariffs on dairy products exported from the United States. The tariffs are effective and are reducing dairy exports from the United States and have pushed the domestic equilibrium price of milk below the price floor. Using a supply and demand model, illustrate what happens to the U.S. domestic price of milk, quantity of milk sold in the United States, and any surplus or shortage of milk. Be sure to support your graph with a written explanation.

1. An inferior good has a ______________________.

1. Positive price elasticity of demand b) Negative price elasticity of demand c) Negative Income elasticity of demand d) Positive income elasticity of demand

2. A movement down the demand curve is a(n):

1. A decrease in quantity demanded b) an increase in quantity demanded c) an increase in demand d) a decrease in demand

3. When a market is at equilibrium,

1. There are no shortages or surpluses b) the price is a fair price c) all consumers can afford the good d) all the above are correct

4. If the demand for peanuts increases,

1. The quantity supplied of peanuts will decrease b) the supply of peanuts will decrease
2. The supply of peanuts will increase d) none of the above are correct

5. A change in a firm’s input costs affect:

1. Supply b) demand c) both supply and demand d) neither supply nor demand

6. A market price will exceed its equilibrium price if the government institutes a:

1. Price floor b) Price ceiling c) an asymmetric target price d) all the above

7. An example of a price ceiling is:

1. Food stamps b) education scholarships c) rent control d) agricultural subsidies

8. “All else held constant” is stated with the phrase:

1. E pluribus Unum b) De gustibus non est disputadum c) ceteris paribus d) coitus acetum

9. The price elasticity of supply for a product must be:

1. Negative b) positive c) greater than one d) smaller than the price elasticity of demand

10. If the price elasticity of demand is perfectly inelastic, the demand curve will be:

1. Vertical b) Horizontal c) Positively Sloped d) Negatively Sloped

11. A price ceiling above a market’s equilibrium price:

1. Creates a shortage b) creates a surplus c) does nothing d) performs price discovery

12. If there is greater quantity supplied than there is quantity demanded at a given price in a market, the price will: a) rise b) fall c) remain the same d) inadequate information to say

13. If a product has a high price elasticity of demand and a high-income elasticity of demand, the product is likely a: a) necessity b) substitute c) luxury d) small solar powered flashlight

14. A highly elastic price elasticity of demand generally means that a good is:

1. Necessary b) very substitutable c) inexpensive d) rarely bought and sold

15. A pair of goods are substitutes if their cross-price elasticity of demand is:

1. Positive b) negative c) zero d) one

Explain the relationship that exists between China and Taiwan. How did it start? What happened to change the relationship and how/why did that happen?  

Discuss Rees’ Spillover Effect, and outline the specific assumptions he makes in order to achieve his results. Use diagrams where necessary.

.  Suppose a monopoly faces inverse market demand P = 600 – 0.01Q, and that the firm’s total cost curve is C = 2,500,000 + 10Q + 0.015Q².

1. Find the firm’s profit-maximizing price and output P^M, Q^Mand sketch the equilibrium.  
2. Find the firm’s ATC formula.  What is the ATC at the output level you found in part a?
3. Add the ATC to your graph and indicate the firm’s profit.  What is the total profit?
4. What is the per unit profit at Q^M?  Explain why it does not make sense to produce more output when the average cost is so far below the price at Q^M.
5. Find the firm’s Lerner index at P^M, Q^M. What does the number tell you?
6. Suppose the government levies an 8% tax on profits.  Does this tax alter the monopoly’s price-output choice? Explain why or why not.

This is a Global Economic question. how trade policies and economic variables are impacting worldwide operations from a tactical and strategic perspective and base on that evaluation how to make economic predictions and recommendations for an organization to proceed in future.

Sample questions for Econ 3308-W 2020

8.if there’s a health care lesson from Europe, it’s that we can and should have a much broader scope of public health coverage in Canada. Evidence shows that we can have a more just, equitable and comprehensive universal health care system that costs less and provides higher quality care for all. Comment.

Sample questions for Econ 3308-W 2020

3. To be effective, a national drug policy should be affordable, accessible, sustainable, and transparent. In your opinion, what obstacles prevent Canada from achieving these goals? What solutions do you recommend to minimize the effects of these obstacles?

Explain the difference between the practice of advertising and the practice of public relations. Find an example of an ad that delivers sales and one that creates a public positive attitude. (If possible, find examples from the same company).

Sample questions for Econ 3308-W 2020.

15. According to the latest data, there are approximately 7.3 million obese adults and more than 600,000 obese school-aged children in Canada. Prevalence estimates based on waist circumference are even worse as 37% of adults and 13% of youth are abdominally obese. Obesity therefore, creates a large burden on Canada’s health cost and the economy. Comment.

Suppose you want to analyze the level of foreign aid that Canada gives to developing countries each year. You are told that Canada’s aid depends on the population of these countries, their level of poverty, and how good governance is in these countries (measured by absence of corruption, etc.) Indicating your notation, write this information:

i) As a general function.

ii) As a linear function.

iii) Comment on the likely sign of the coefficients in your linear function. (Note: your mark will depend heavily on the quality of your explanation. So be sure to be clear; explain your line of reasoning.)

Assume that you are on the collective bargaining panel discussing the wage talks representing the employers. What are some points you will use to defend the employers on why an increase of the wages above the inflation rate should be turned down as it is detrimental to the economy?

Discuss how issues related to the spread of the corona virus is affecting the following variables within your country.

a.         Unemployment

b.        Consumer demand

c.         Government spending