Which Countries Have A Trade Surplus? Rank Economy CAB (million US dollars) 1 China 296,600 2 Germany 195,400 3 Japan 164,900 4 Taiwan 82,839 Why does Greece have a trade deficit? Greece reports regular trade deficits due to high volume of imports. Main imports are mineral fuels, machinery and transport equipment and chemicals. Does Greece
How Do You Explain Consumer Surplus? A consumer surplus happens when the price that consumers pay for a product or service is less than the price they’re willing to pay. It’s a measure of the additional benefit that consumers receive because they’re paying less for something than what they were willing to pay. How do
How Does Shortage Occur? A shortage, in economic terms, is a condition where the quantity demanded is greater than the quantity supplied at the market price. There are three main causes of shortage—increase in demand, decrease in supply, and government intervention. How does shortage happen in the market? A Market Shortage occurs when there is
What Is Consumer Surplus How Is It Measured? Consumer surplus is measured as the area below the downward-sloping demand curve, or the amount a consumer is willing to spend for given quantities of a good, and above the actual market price of the good, depicted with a horizontal line drawn between the y-axis and demand
When Government Policy Moves From A Budget Surplus To A Budget Deficit And The Trade Deficit Remains Constant? If an economy has a budget deficit of 600, private savings of 2,000, and investment of 800. What is the balance of trade in this economy? When government policy moves from a budget surplus to a budget
When A Buyers Willingness To Pay For A Good Is Less Than The Price Of The Good? A consumer surplus happens when the price consumers pay for a product or service is less than the price they’re willing to pay. Consumer surplus is based on the economic theory of marginal utility, which is the additional
How Can A Country Run An Overall BoP Deficit Or Surplus? Answer: A country can run an overall BOP deficit or surplus by engaging in the official reserve transactions. For example, an overall BOP deficit can be supported by drawing down the central bank’s reserve holdings. Likewise, an overall BOP surplus can be absorbed by
Is Surplus Good Or Bad? Budget surpluses are not always beneficial as they can create deflation and economic growth. Budget surpluses are not necessarily bad or good, but prolonged periods of surpluses or deficits can cause significant problems. What is surplus good? What Is a Surplus in Economics? … Consumer surplus occurs when the price
Is Surplus Better Than Shortage? A shortage occurs when the quantity demanded for a good exceeds the quantity supplied at a specific price. A surplus occurs when the quantity supplied of a good exceeds the quantity demanded at a specific price. … In addition, a surplus occurs at prices above the equilibrium price. Why should
Were Mesopotamians Economically Successful? Trade and commerce developed in Mesopotamia because the farmers learned how to irrigate their land. They could now grow more food than they could eat. They used the surplus to trade for goods and services. Ur, a city-state in Sumer, was a major center for commerce and trade. How was the