Who Gains from Imports? How Do They Gain? Who Loses

question 21

Essay

Who gains from imports? How do they gain? Who loses? How do they lose? Does the overall economy gain or lose from imports?

Assess the financial outcomes of eliminating a division or department.

Make informed decisions on whether to make or buy components based on relevant costs.

Determine the best product mix to maximize the use of a constrained resource.

Evaluate the financial advantage/disadvantage of further processing products.

---

Definitions:

Marginal Benefit

The additional benefit received from consuming one more unit of a product or service.

Total Benefit

The overall advantages or gains received from a good or service, including both tangible and intangible elements.

Football Games

Organized sporting events involving two teams playing football (soccer in some countries) under a set of rules to score goals against each other.

Total Benefit

The complete gain or satisfaction a person receives from consuming a good or service.