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Total Marks | 5 |
Starting Date | Monday, May 13, 2024 |
Closing Date | Friday, May 17, 2024 |
Status | |
Question Title | Free market and planned economy |
Question Description | Business Ethics (MGT610) Graded Discussion Board (GDB) Spring 2024
"The country X is renowned for its locally produced high-quality coffee beans. However, the coffee industry is currently facing a crisis due to low demand for high-cost locally produced beans. Additionally, coffee prices have declined due to competition from imported beans with less stringent regulations. Many small coffee farmers are struggling to sustain their livelihoods and may be forced to sell their land or resort to unsustainable farming practices. In response, the government has decided to impose tariffs on imported coffee to protect the interests of local producers. Considering the scenario above answer the following question: 1) Does the government policy regarding tariffs support the free-market approach or the interventionist approach? 2) What can be a possible drawback of the correctly selected approach in Question # 1for coffee farmers? 3) Is the government policy aligned with an individualistic or communitarian viewpoint? 4) What can be a potential drawback of the viewpoint you have rightly selected in question # 3? Important Instructions:
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