Thursday, August 29, 2019
Exporting by states in the United States Essay Example | Topics and Well Written Essays - 250 words
Exporting by states in the United States - Essay Example A state of Ohio has a mandate to employ its citizen in the labor market. Export trade creates job opportunities, and that contributes positively to expansion in GDP of a state. An increase in a countryÃ¢â¬â¢s GDP results in an increased per capita income hence a general improvement in the welfare of the citizens. Ohio would formulate favorable foreign policies to attract foreign currency. A country may export its products to those countries with competitive prices. The State of Ohio would focus on those states, which offer highest prices for same products. Commodities with relatively favorable returns in the local market need no export. Goods have different cost of production and attract different revenue, therefore if export trade is not profitable, it is null and void strategy for a firm. Some countries prohibit importation of certain commodities thus can only trade locally Sen, Sunanda. "International trade theory and policy: A review of the literature." Levy Economics Institute of Bard College, Working Paper No. 635. November 2010.
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