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5.05 Economics Assignment

Zackery Kost 11/03/2015 Economics 5.05 Should Free Trade Be a Goal? 1. Choose two diferent visual media items that express opinions about trade agreements, barriers to trade or Free trade. The resource list provides some examples oF visual media and guidance on where to locate them on the Internet. Be sure to include the media item, or direc±ons on how to access it, with your assessment. Make a note oF the key events and ideas evident in the item, the creator and date oF origin, and be sure to read any cap±ons or quotes that are included. 2. Analyze the message delivered by each oF your visual media items. ²or each item, respond to the Following ques±ons in complete sentences. Cite evidence From the resource and the lesson to jus±Fy your responses. Visual Media Item One (Include media item or direc±ons on how to access it online.) A. What is the issue discussed in the visual media item you chose? Answer: The issue being discussed in this visual media item is the free trade agreement with Mexico. (Poli±cal cartoon)

Unformatted text preview: 05.05 Should Free Trade Be a Goal – Honors 1. Why are some people against outsourcing? Why do others support it? The main reason why some people are against outsourcing is that it takes away job opportunities from the American people. Outsourcing has led to an increase of unemployment in America. A lot of workers are angry that they’re losing their jobs to foreign workers. While there are a lot of people who are against outsourcing, there’s also people who support it. Many large companies outsource to foreign countries because it is cheaper to produce a product there. They don’t have to pay a foreign worker as much as they would have to pay an American worker. For example, in Bangladesh, factory workers only get paid $20 a day for working at least 8 hours a day, six days a week. 2. Choose a developing nation and a developed nation. What industries or companies may have an interest in outsourcing to these nations? America and Asia - Many American clothing industries have outsourced to Asian countries. One of which is Bangladesh where many woman work for very low wages in textile factories. US and Mexico - Whirlpool outsourced their refrigerator assembly operation to Mexico from Indiana, in 2010. US and Brazil - America does not dominate in the coffee production industry, so we buy Brazilian coffee beans. 3. What barriers to trade would prevent an American company outsourcing to one of those countries? A barrier to trade is government subsidy to an industry. Subsidies make the good being produced cheaper to make than in foreign markets. Another barrier to trade could be tariffs. Tariffs allow foreign countries to tax imports and exports to and from the outsourcing country. Also, if America wanted to outsource to another country they could decide they don’t want the business there. 4. Do you think outsourcing would promote or hinder a healthy American economy? Explain. I think that outsourcing would hinder a healthy American economy. Outsourcing to foreign countries moves jobs away from the American people. Many people lose their jobs to outsourcing and unemployment rates increase. This would cause more people to rely on welfare as they can’t find a job to support themselves and their family. I believe that outsourcing would lead to an eventual deterioration of the American economy. Works Cited Ellis-Christensen, Tricia, and O. Wallace. "How Does Outsourcing Affect the U.S. Economy?" WiseGeek. Conjecture, n.d. Web. 01 Aug. 2015. http://www.wisegeek.com/how-does-outsourcing-affect-the-us-economy.htm Ghosh, Palash. "Despite Low Pay, Poor Work Conditions, Garment Factories Empowering Millions Of Bangladeshi Women." International Business Times. N.p., 25 Mar. 2014. Web. 01 Aug. 2015. http://www.ibtimes.com/despite-low-pay-poor-work-conditions-garment-factoriesempowering-millions-bangladeshi-women-1563419 "Outsourcing of US Jobs to Foreign Countries: Bad or Good?" CreateDebate. TidyLife, Inc., n.d. Web. 01 Aug. 2015. http://www.createdebate.com/debate/show/Outsourcing_of_US_jobs_to_foreign_ countries:_Bad_or_Good ...
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