You are employed as a Business Strategic Executive at the Fridge Manufacturing and Export Company. This company is in the business of exporting fridges to overseas markets. The company faces external shocks arising from high global oil price (from a transport point of view and COVID-19 related constraints. The volatile world market pushes the price for fridges higher than before and remains generally high for almost a year. Using a graph that depicts market forces that underlies the global market for fridges, discuss the short-run increased price effects on exports for fridges

Q&A Education