International commodity agreements, Managerial Economics

International Commodity Agreements (ICAS)

International Commodity Agreements (ICAS) represents attempts to modify the operation of the commodity markets so as to achieve various objectives such as price stabilization of price enhancement.  Support for such intervention stems from apparent weaknesses in the operation of market forces in achieving an efficient allocation of resources, appropriate levels of privately held stocks in some commodities and an equitable distribution of income from their export as between exporters and importing countries.

ICAS are to be distinguished from producers' or exporters' cartels by the feature of consumer agreement to the scheme and representation on the governing body.

Posted Date: 11/30/2012 5:07:27 AM | Location : United States







Related Discussions:- International commodity agreements, Assignment Help, Ask Question on International commodity agreements, Get Answer, Expert's Help, International commodity agreements Discussions

Write discussion on International commodity agreements
Your posts are moderated
Related Questions
Oligopoly can be characterized as follows: Small Number of Sellers: There are more than one sellers of a product though; the number isn't so huge in order to produce perfect


Average Revenue (AR) This is the revenue per unit of the commodity sold.  It is obtained by dividing Total Revenue by total quantity sold.  For a firm in a perfectly competiti

A city has two newspapers. Demand for either paper depends on its own price and the price of its rival. Demand functions for paper A & B respectively, measured in tens of thousands

Gross Domestic Product A measure of national economic activity, GDP is measured from two approaches. GDP can be viewed as the total value of all goods and services produced in

Factors determining Elasticity of demand Ease of substitution. Nature of the commodity i.e. whether it is a necessity of life, luxury or addictive. Consumers

FACTORS RESPONSIBLE FOR WAGE DIFFERENTIALS BETWEEN OCCUPATIONS The major cause is demand and supply for the particular labour concerned, but other causes could be: i.

Problem 1: (a) Distinguish between political and partisan monetary cycles on inflation and unemployment rates. (b) In the rule versus discretion literature, explain how dy

Q. Describe the gift exchange model of reciprocity? George Akerlof (1982) develops a gift exchange model of reciprocity in that employers offer wages unrelated to variations in

Managerial Economics helps create utility for the Society.