Video Link: https://www.mruniversity.com/courses/everyday-economics/buy-local-movement-shop-small-business
1) What are two weaknesses in the buy local argument?
- Even if you are buying local, the local business usually don’t keep the money flowing in the local community.
- Just because a product is made locally, the supplies used to make the product are not necessarily local supplies.
2) After watching the video are you still going to make an effort to buy local on occasion? Why or why not?
After watching this video, I am not going to go out of my way to buy local, but Im not going to stop buying the local products that I love and use regularly.
3) What economic strengths of buy local are not mentioned in the video?
If you buy local, you are supporting your local businesses and creating more jobs for your community.
4) From the perspective of Colorado, is trade with Wyoming different from trade with China? Why or why not? Keep in mind that Colorado doesn’t trade with Wyoming or China. Individuals in Colorado purchase items produced in Wyoming (coal probably :-)) and in China (maybe a t-shirt).
From the perspective of Colorado, if possible trade with Wyoming is better than trade with China because the U.S. benefits more if we keep monetary flow in our country rather then China’s.
