Supply and demand China
Definition of supply
The amount of goods or services available for sale.
Definition of demand
The willingness and ability of consumers to purchase goods or services.
What type of government does Canada have
Democracy
What is a tariff
A tax imposed by countries on goods imported or exported to/from the country
What action did the Chinese government encourage farmers to take to address milk oversupply?
Optimizing herd structures by eliminating older cows and controlling dairy production.
Which sector drove the growth in Canada’s retail sales in October 2024?
The automotive sector (new car sales).
Definition of democracy
A system of government that is chosen by the of citizens
How much are the tariffs that Trump wants to impose?
(in percentage)
By how much did China’s milk production decrease in 2024 compared to the previous year?
It decreased by 2.4%.
What policy in December 2024 might have caused Canadian consumers to delay purchases?
A two-month sales tax holiday.
What was Chrystia Freeland's role in government?
Deput & Finance Minister
Name 2 Pros for Tariffs!
Revenue Generation, Protecting Domestic Industries, Regulating Trade Balances
When does the Chinese agriculture ministry predict milk oversupply will normalize?
In the second half of 2025.
What proportion of consumer spending in Canada is contributed by retail sales?
Nearly 40%.
Name 2 Cons For Tariffs!
What is an example of how changing consumer preferences have impacted the dairy market in China?
Reduced demand for high-priced dairy products like cheese and cream.
What was the Bank of Canada’s GDP growth target for the fourth quarter of 2024, and why is it unlikely to be met?
What was the Bank of Canada’s GDP growth target for the fourth quarter of 2024, and why is it unlikely to be met?
Thanks For Answering!