Make sure to respond to each of them. Try to include any relevant microeconomic concepts or thinking as derived from your readings. Thank you!!
#4: The American Cherry Industry Falters.
“The best approach to help out specifically just the American cherry farmers would be to implement anti-dumping duties on Turkey. This would, hopefully, discourage Turkish farmers from exporting large volumes of tart cherries to the US due to the decrease in profit. The stark difference in pricing between Turkish cherries and US cherries, 89 cents per pound versus $4.60, explicitly shows unfair trading practices. It negatively impacts the US cherry economy by forcing US farmers out of business and gives monopoly power to Turkish businesses. However, through implementing anti-dumping duties, American consumers would likely need to pay for tart cherries at a higher purchase price, meaning American consumers would be negatively impacted while American sellers benefit.”
#5: Soaring Meat Prices.
“A response to the soaring meat prices in China will be less consumption of meat in that country and surrounding ones. Not only the people who can’t afford meat but even citizens who can easily afford it will reduce or even completely rule out meat consumption. The article stated that other export countries are widening there shipping capacity to meet China’s demand, but it will be temporary. The prices cannot continue to plunge forever as the disease is dwindled and more of the herd is back. Eventually hog breeding will back in it’s full effect and little by little, prices will settle.”
#6: Sears, Once the Amazon of the 20th Century – Falls.
“While Sears was once one of the largest successful retailer, it’s demise is largely contributed to its lack of adaptation. With technological improvements advancing other companies in the 21st century, Sears did not advance at the same rate and could not keep up with the competition. Once media picked up a small bit, it was a slow downhill ride from there. I believe that Sears best bet would be to rebrand and launch a social media marketing campaign. Targeting consumers on social media and focusing on online sales is now basically a necessity in today’s market. If Sears focused on this instead of slowly closing more and more stores, there may have been a chance at saving the company.”
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