Answer to Question #177115 in Macroeconomics for Priyanka Vejendla

Question

 If you are a business in Ontario, it is possible to get a grant of up to $30,000 or 50% of costs related to growing your export market. For example, attending international trade shows, or creating a marketing plan for a new market. This funding comes from an annually reviewed and funded program to support exporters. Do you think this is a fair or an unfair trading practice? Explain.

Answer 1

Solution:

This is a fair-trading practice.

This is a form of export incentives provided by the government as a form of economic assistance to businesses, especially start-ups or small firms. They are also meant to support the export of particular goods and services. They are also used to encourage or motivate businesses to export goods and services. This is to enable businesses, start-ups, or small businesses to secure foreign markets and to ensure that domestic goods and services have a wider reach in the global market.