Corporate-guided markets for branded products - the general market form in the system of abundance is a new concept that revolves around increasing sales revenues. By looking at ways in which the corporate-guided market achieves this and considering the three broad economic subsystems: scarcity, sufficiency and abundance, a detailed explanation of how the corporate-guided market mitigates the threat of under-consumption in the system of abundance can be given.
Scarcity, Sufficiency, Abundance
Institution of Marketing:
Scarcity, …show more content…
Q5. Discuss the benefits of free trade to a country and the businesses within it.
The system of free trade presents numerous benefits to the world economy. By encouraging countries to specialise in commodities, production becomes more efficient. In the same way a consumer gains satisfaction from a bargain buy, nations benefit from purchasing products at a lower rate on the global market. That said, what may be perceived as free trade benefits to some businesses, may not be as advantageous to others. The benefits of free trade to a country and the businesses within it is a topic of discussion that will be explored throughout this essay. Specifically, the country of the United States of America will be referred to, along with the provision of contradictory perspectives on free trade and the entities that are affected by this international policy.
Free Trade: Positive Effects
Free trade increases prosperity for Americans and the citizens of all participating nations by allowing consumers to buy more, better quality products at lower costs. It drives economic growth, enhanced efficiency, increased innovation, and the greater fairness that accompanies a rules-based system. These benefits rise as overall trade exports and imports increase.
Access to higher-quality, lower-priced goods is made easier via the