The case:In Pakistan, the trade deficit was observed since 1985 because the value of imports is higher than the value of exports. The International Monetary Fund (IMF) advised that a country should have four months import bill in their total reserves. For the reduction in imports, the Government of Pakistan proposed new sales tax rates on the imported mobile phone in the mini Budget, expressed as:Sr. No.Mobile Price (International)Sales Tax1Up to 30 USDRs. 150230 USD to 100 USDRs. 14703100 USD…See More
Laws enacted by the government to regulate prices are called price controls. Price controls come in two flavors. A price ceiling keeps a price from rising above a certain level—the “ceiling”.…"
"The shortage may be resolved in many ways.One way is "queuing"; people have to wait in line for the product, and only those willing to wait in line for the product will actually get it. Sellers might provide the product only to family and…"
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