Specialisation And Free Trade
Gbogbo ọrọ náà
No country produces everything it consumes, and none would want to. Instead, countries concentrate on what they are best at and trade for the rest. This is specialisation and free trade, and it is one of the reasons the modern world is so much richer than it used to be, with bananas in cold countries and cars on every continent.
In this lesson you will define specialisation by country and free trade, understand why countries specialise based on their resources and costs, and weigh the advantages and disadvantages of both specialisation and free trade. These ideas open up the whole international section of the course.
Ebumnobi
- definition of specialisation by country
- the basis for specialisation by country in terms of the best resource allocation and/or low-cost production
- advantages and disadvantages of specialisation
- definition of free trade
- advantages and disadvantages of free trade
Akọmọ Ojú-ẹkọ
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Ayẹwo Ẹkọ
Ekele diri gi maka imecha ihe karịrị na Specialisation And Free Trade. Ugbu a na ị na-enyochakwa isi echiche na echiche ndị dị mkpa, ọ bụ oge iji nwalee ihe ị ma. Ngwa a na-enye ụdị ajụjụ ọmụmụ dị iche iche emebere iji kwado nghọta gị wee nyere gị aka ịmata otú ị ghọtara ihe ndị a kụziri.
Ị ga-ahụ ngwakọta nke ụdị ajụjụ dị iche iche, gụnyere ajụjụ chọrọ ịhọrọ otu n’ime ọtụtụ azịza, ajụjụ chọrọ mkpirisi azịza, na ajụjụ ede ede. A na-arụpụta ajụjụ ọ bụla nke ọma iji nwalee akụkụ dị iche iche nke ihe ọmụma gị na nkà nke ịtụgharị uche.
Jiri akụkụ a nke nyocha ka ohere iji kụziere ihe ị matara banyere isiokwu ahụ ma chọpụta ebe ọ bụla ị nwere ike ịchọ ọmụmụ ihe ọzọ. Ekwela ka nsogbu ọ bụla ị na-eche ihu mee ka ị daa mba; kama, lee ha anya dị ka ohere maka ịzụlite onwe gị na imeziwanye.
- Specialisation by country occurs when a country: A. produces everything it needs itself B. concentrates on producing particular goods or services C. bans all imports D. has no natural resources Answer: B
- Free trade is best defined as international trade that takes place: A. only between neighbouring countries B. without protectionist barriers such as tariffs C. using a single currency D. only in services Answer: B
- A major disadvantage of overspecialisation is that a country becomes: A. more efficient B. vulnerable to a fall in the price of its main product C. able to enjoy economies of scale D. more competitive Answer: B
- Which is an advantage of free trade for consumers? A. higher prices B. less choice C. lower prices and greater choice D. more tariffs Answer: C
- A tariff is: A. a subsidy to exporters B. a tax on imports C. a limit on the quantity of imports D. a ban on trade Answer: B
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Ọ dị na ngwa Green Bridge
Budata ngwa Green Bridge CBT na ekwentị maọbụ kọmputa gị iji nweta akwụkwọ ndụmọdụ zuru oke, ajụjụ mmụta, na ndị ọzọ.
Àwọn Ìwé Tó Dáa Láti Kà
Meecha Ajụjụ Ule Ọmarịcha
Ị chọrọ ime ajụjụ ule ọmarịcha gbasara Specialisation And Free Trade? Budata ngwa Green Bridge CBT iji nweta ajụjụ ule ọmarịcha na nyocha zuru ezu gbasara isiokwu a.
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