International Trade 0.0 / 5 ? EconomicsInternational TradeASOCR Created by: shaimaxx98Created on: 16-03-15 17:10 definition of international trade The exchange of goods and services along international boarders. it allows for greater competitors and competitve pricing in the market 1 of 10 advantages of international trade no barriers to trade, access to new markets, specialisation, economies of scale, lower prices, innovation new tech 2 of 10 disadvantages of international trade domestic suppliers lose market share, domestic unemployment, loss of industries and skills,leakeges and negative multiplier effect 3 of 10 definition of protectionism the act of imposing trade barriers to protect the income of domestic producers 4 of 10 definition of free trade no barriers to trade 5 of 10 definition of embargo this is a total ban on trade 6 of 10 definition of tarriffs a tarriff is a tax on imports 7 of 10 definition of quatos a physical limit set upon the amount of goods which may be imported 8 of 10 definition of subsidies these are negative indirect taxes 9 of 10 reasons why government use trade barriers to protect jobs, to protect infant industries, to ban certain goods,to avoid overdependence, to protect against dumping 10 of 10
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