How did the Silk Road trade affect peasants in China?

A) Peasants focussed more on luxury goods.

B) Peasants abandoned farming to go into commerce.

C) Peasants converted to Buddhism in large numbers.

D) Peasants only cultivated crops for subsistence.

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Joshua StredderLv10

20 Oct 2020

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4. Assume that Thailand and India are potential trading partners of China. Thailand is a member of ASEAN but India is not. Suppose the import price of textiles from India (PIndia) is 50 per unit under free trade and is subject to a 20% tariff. As of January 1st 2010, China and Thailand entered into the China-ASEAN freetrade area, eliminating tariffs on Thai imports. Use the following figure to answer these questions:

a. Before the China-ASEAN free-trade area, how much does China import from each trading partner? What is the import price? Calculate the tariff revenue.

b. After the China-ASEAN free-trade area, how much does China import from each trade partner? What is the import price? What is the total tariff revenue of China?

c. Based on your answer to part (b), what is the impact of the China-ASEAN free-trade area on the welfare of China?

d. What is the effect of the China-ASEAN free-trade area on the welfare of Thailand and India?

e. As mentioned in the Headlines: China-ASEAN Treaty Threatens Indian Exporters, the China-ASEAN agreement may lead to a similar one between China and India. How would this affect China

bronzetoad670

1. In recent years China market reforms have turned toward:

	A.	more free trade, allowing foreign-owned enterprises to import, export, and establish production in China.
	B.	establishing more urban collectives.
	C.	transforming state-owned enterprises into shareholder-owned corporations.
	D.	reestablishing central planning.

2. In pure capitalism, the role of government is best described as:

	A.	nonexistent
	B.	limited
	C.	significant
	D.	extensive

3. In pre-reform Russia and pre-reform China:

	A.	both consumer and capital goods outputs were determined by central planning.
	B.	both consumer and capital goods outputs were determined by the market.
	C.	capital goods output was determined by planning, but consumer goods output was determined by the market.
	D.	consumer goods output was determined by planning, but capital goods output was determined by the market.

4. In college, you practically existed on Spam, but now that you have an $80,000 a year job, you never want to see Spam again. We can safely conclude that you consider Spam to be

	A.	a normal good.
	B.	a complementary good.
	C.	an inferior good.
	D.	a luxury good.

5. In a free market, the price system determines how society's output will be distributed by:

	A.	ensuring that low-income people can buy all of the necessities for living.
	B.	providing goods for those willing and able to pay the equilibrium price.
	C.	ensuring that each commodity is produced by the most efficient technique.
	D.	allowing all those who desire a commodity to buy it.

taupesnail247

Please read the article below and answer this question:

a) The article calls for public policy initiatives to address animal welfare and environmental concerns associated with dairy farming in Australia. With reference to economic concepts covered in this course, explain why the government might want to intervene in the dairy market.

View partners of The Conversation The Australian dairy farming industry are in a state of crisis. Cheap dairy products and fluctuations in both the domestic and global markets have taken a financial toll on farmers. Consumers have rallied to help struggling dairy producers. But this is only half the problem. The true cost of dairy is also paid by dairy cows and the environment. Welfare problems Despite the idyllic image of outdoor farming, several industry practices negatively affect dairy cows. To meet production demands, dairy cows are subject to a continuous cycle of impregnation, induced calving, and milking. Tail-docking and horn removal are routinely performed without pain relief. Lameness is another major animal welfare problem, often the result of environmental pressures, such as tracks, herd size, and handling. The average lifespan of a dairy cow is six to seven years, whereas generally, cows can live for 20 to 25 years. One of the most controversial issues is young bobby calves. A bobby calf is a newborn calf, less than 30 days old, who has been purposely separated from its mother. Immediately after separation, the cow and calf call out and search for each other. Most bobby calves are slaughtered within the first week of their life. Handling and transport pose added problems for young calves who have not developed herding behaviors, are vulnerable to stress, and are forced to go without their mother's milk. Each year, 450,000 bobby calves are slaughtered. Dairy farmers are being milked dry, but let's remember the real cost of milk May 25, 2016, 6.11 am AEST The dairy industry faces a number of welfare and environmental issues. Cow image from www.shutterstock.com Advocacy groups frequently uncover the routine abuse of bobby calves in Australian abattoirs and challenge the dairy industry to do something about it. Yet aside from the wider ethical questions over the use and exploitation of animals, farmers are not legally doing anything wrong. This is because the treatment of animals operates in a legal context where animals are considered absolute property. What's more, farm animals are exempt from the provisions of anti-cruelty legislation. Codes of practice are practically useless because they promote low welfare standards and are unenforceable. The environmental impact As well as systematic welfare problems, livestock farming is, both directly and indirectly, one of the most ecologically harmful human activities. The Australian livestock sector is worth A$17 billion and dairy cattle farming is a A$4.2 billion industry. In Australia, livestock farming accounts for 10% to 16% of greenhouse gas emissions, with dairy farms contributing 19% of this or 3% of total emissions. Methane emissions, from digestion and manure, and nitrous oxide from livestock are significant contributors. Globally, the livestock sector is responsible for more greenhouse gases than the world's transport. Livestock production accounts for 70% of all agricultural land, including the land used to grow crops to feed these animals. Animal agriculture is a key factor in land degradation, deforestation, water stress, pollution, and loss of biodiversity. Livestock farming will also be affected by climate change, particularly changes in temperature and water. The quantity and quality of pasture and forage crops will also be affected. Diseases may increase due to fluctuating weather and climate. Emissions can be reduced Just as the energy sector is attempting to transition to low-carbon energy sources to tackle climate change, the agricultural sector needs to transition to an ethical and sustainable alternative. From the current crisis, there are several opportunities for farmers to seize. Large transitions are possible in land use, production, output, and profitability. Places such as Gippsland in Victoria, which currently produces 19% of Australia's dairy, have the opportunity for agricultural development based on apples and brassicas, such as broccoli, kale, cauliflower, cabbage, turnip, and mustard. Some of these crops are already popular in the region. As a result of climate change and increasing temperatures, some areas will be more suitable than others. While still in the stages of research, perennial grain crops that store more carbon, maintain better soil and water quality, and manage nutrients better than annuals have the potential to contribute to sustainable agriculture. New land uses could also include carbon plantings, biofuels, and bioenergy crops. Investing in further research for alternatives to livestock farming is needed. Some have argued that livestock emissions can be technically mitigated by modifying animal feed, better managing pastures, carbon sequestration, and manure storage. Welfare issues remain But technical mitigation does not address the endemic animal welfare problems in the livestock industry. Consumer demand is one of the most powerful strategies to combat animal welfare and environmental problems. Research shows that we must reduce food waste and losses in the supply chain and change our diets toward less resource-intensive diets, such as plant-based diets. Doing so would cut emissions by two-thirds and save lives. It's possible to eliminate animal suffering and reduce carbon emissions by reducing and replacing livestock production and consumption. Alternatives to dairy milk include soy and almond milk. Soy milk is nutritionally comparable to dairy milk and has a significantly smaller environmental footprint. Policy initiatives also need to address these issues. The Food and Agriculture Organization's Livestock's Long Shadow report recommends a policy approach that correctly prices natural resources to reflect the full environmental costs and to end damaging subsidies. In the interim, higher taxes on meat and other livestock products will be necessary to improve public health and combat climate change. Denmark, for instance, is considering proposals to raise the tax on meat after its ethics council concluded that climate change is an ethical problem. Governments everywhere need to have a transitional plan for livestock producers and workers - one that helps to cultivate the ethical and sustainable agricultural endeavors of the future.