Trade
- Created by: Sunbunsuperstar
- Created on: 28-04-22 16:43
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- Trade
- Visible trade
- Goods that can be counted, weighed and given a value (e.g. foods)
- Invisible trade
- Trade of services (e.g. tourism)
- Advantages
- Economies of scale (Larger productions = increased sales cost)
- Purchasing power (the amount of goods and services that can be bought)
- Fewer domestic monopolies (dominant trades-people)
- Disadvantages
- Over-specialisation
- Product dumping (export of a product at a price that is lower in the foreign market than the domestic market)
- Visible trade
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