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Phase5 IP Markets for Labor - Essay Example

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Phase5 IP Markets for Labour Name: Institution: Course: Tutor: Part I The type of tax that government apply on cookbooks is called fat tax. This type of tax is aimed at discouraging consumption of unhealthy food that may contribute to an increase in obesity, diabetes and other life threatening complications…
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Phase5 IP Markets for Labor
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Download file to see previous pages For example, the cost for buying and diagnosing people with obesity and diabetes has reduced significantly because most people are trying to avoid unhealthy food due to higher cost of those foods (Gilman, 2008). The supply of cookbooks will fall/decrease significantly because an increase in tax leads to an increase in the cost of production because raw materials become expensive. This further leads to a decrease in consumption because consumers are rational and their aim is to maximise their utility as well as minimise cost. Therefore, increase in cost of unhealthy food will decrease consumption and supply (Spearman, n.d). Consumers are the ones who pay tax at the end because after the government has increased taxes, tax of certain commodities consumers pay this tax by buying the commodities. In above connection, this method may be good to finance health programs because it help to discourage consumption of unhealthy food which consequently reduces the cost that government incur on health care facilities. This is because the cases of people with diabetes and obesity will reduce significantly. The other tax that government may use to increase revenues include: Income tax, corporate tax, capital gain tax, social security contribution tax, property tax, inheritance tax to mention just but a few. Income tax is levied/applied on individual earrings’ whereby; the state deducts certain amount of income that is within the tax brackets. On the contrary, corporate tax is the one that is levied on the company earnings while capital gain tax is the amount of tax levied on the earnings made after financial securities have been sold. Social security contribution is the amount levied on the amount that people contribute as savings under pension scheme. Property tax might be levied on individuals’ property such as land, real estates, motor vehicle among other non-current assets (Spearman, n.d). Part II Absolute advantage entails the ability of an organisation to produce goods and service more efficiently than its competitors using the same amount of resources as it competitor. An organisation with absolute advantage tends to have the ability to produce goods at a lower cost and later selling them at a profit. For example, if two companies have the same amount of resource but company A can produce 100kgs of wheat while company B can produce 50kgs, then company A may be said to have an absolute advantage over B. Therefore, in this case, the ability of of becoming wildly successful in the United States presents an absolute advantage. On the other hand, comparative advantage entails the ability of a particular organisation to produce goods and services at a lower cost as compared to other firms. For example, if Japan can produce one car at 100 dollar and 1 motor bike at 40 dollars while U.S can produce the same car at 90 dollars and motor bike at 20 dollars then, it may be said that U.S has a comparative advantage of producing cars while Japan has a comparative advantage of producing motor bikes (Mike, 2013). When one focuses at becoming a multinational Corporation, one should be ready to face cultural and ethical issues, legal issues, human resource issues, etiquette and custom issues, political issues to mention just but a few. Cultural issues entail problems that arise due to increase in organisation diversity as a company goes global. Legal issues arise when a company must obey ...Download file to see next pages Read More
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