International Trade
Akopọ
No country produces everything it consumes, and no country consumes only what it produces. Coffee grown in one climate reaches breakfast tables on the other side of the world; a country with no oil fields still fills its cars with petrol. International trade lets countries specialise in what they are relatively best at producing and exchange the rest, and the economic case for this, comparative advantage, is one of the oldest and most powerful ideas in the subject.
In this lesson you will learn why countries trade, why governments sometimes restrict trade instead, the tools they use to do it, and how trading blocs and the World Trade Organization shape the pattern of world trade today.
Awọn Afojusun
- Advantages and disadvantages of free trade, including lower prices and increased choice for consumers, lower input costs, wider markets for businesses, foreign competition harming domestic businesses, increasing unemployment
- Reasons for protection: prevent dumping, protect employment, protecting infant industries, to gain tariff revenue, protect consumers from unsafe products, reducing current account deficits, retaliation
- Methods of protection: tariffs, quotas, subsidies, advantages and disadvantages of each method of protection, supply and demand diagrams to show tariffs, quotas and subsidies
- Modern trading blocs: impact of trading blocs on member and non-member countries, examples of trading blocs
- Role of the World Trade Organization (WTO): actions by the WTO
- Trade patterns of developed and developing countries
Àwòrán ọpọlọ
A ti ṣe àwòrán kókó yìí kí o lè rí bí àwọn èrò ṣe so pọ̀.
Ṣí àwòrán ọpọlọ nínú áàpù
Káàdì ìrántí
Ìdánrawò kíákíá lórí ohun tí wọ́n ń dán wò nínú kókó yìí.
Ṣe ìdánrawò káàdì wọ̀nyí nínú áàpù
Akọ̀wé Ẹ̀kọ́
Àkọsílẹ̀ Ẹ̀kọ́ Pípé wà lórí Ohun Èlò Green Bridge
Gba ohun èlò Green Bridge CBT sórí fóònù tàbí kọ̀mpútà rẹ fún gbogbo ilé ìkàwé IGCSE: ìwé ìdánwò àtijọ́, ìlànà ìdíwọ̀n, àwòrán èrò, káàdì ìkẹ́kọ̀ọ́ àti ẹ̀kọ́ ohùn.
Ìdánwò Ẹ̀kọ́
Oriire fun ipari ẹkọ lori International Trade. Ni bayi ti o ti ṣawari naa awọn imọran bọtini ati awọn imọran, o to akoko lati fi imọ rẹ si idanwo. Ẹka yii nfunni ni ọpọlọpọ awọn adaṣe awọn ibeere ti a ṣe lati fun oye rẹ lokun ati ṣe iranlọwọ fun ọ lati ṣe iwọn oye ohun elo naa.
Iwọ yoo pade adalu awọn iru ibeere, pẹlu awọn ibeere olumulo pupọ, awọn ibeere idahun kukuru, ati awọn ibeere iwe kikọ. Gbogbo ibeere kọọkan ni a ṣe pẹlu iṣaro lati ṣe ayẹwo awọn ẹya oriṣiriṣi ti imọ rẹ ati awọn ogbon ironu pataki.
Lo ise abala yii gege bi anfaani lati mu oye re lori koko-ọrọ naa lagbara ati lati ṣe idanimọ eyikeyi agbegbe ti o le nilo afikun ikẹkọ. Maṣe jẹ ki awọn italaya eyikeyi ti o ba pade da ọ lójú; dipo, wo wọn gẹgẹ bi awọn anfaani fun idagbasoke ati ilọsiwaju.
- A country has a comparative advantage in a good if it can produce that good: A) In larger quantities than any other country B) At a lower opportunity cost than another country C) Using more resources than another country D) Only for domestic consumption Answer: B
- Which of the following is a method used to protect a domestic industry from foreign competition? A) Comparative advantage B) A tariff C) Free trade D) Trade liberalisation Answer: B
- Unlike a tariff, a quota: A) Raises significant revenue for the government B) Sets a physical limit on the quantity of imports rather than taxing them C) Always lowers domestic prices D) Cannot affect the quantity of imports Answer: B
- A customs union differs from a free trade area because a customs union: A) Removes all trade barriers between members only B) Also sets a common external tariff on non-member countries C) Allows completely free movement of labour and capital D) Uses a single shared currency Answer: B
- Which organization's main role is to negotiate the reduction of trade barriers and settle trade disputes between countries worldwide? A) The World Trade Organization B) A regional trading bloc C) A central bank D) A multinational corporation Answer: A
Ṣiṣẹ́ lórí àwọn ìbéèrè wọ̀nyí nínú ohun èlò náà
Ṣiṣẹ́ lórí àwọn ìbéèrè wọ̀nyí nínú ohun èlò náà
Awọn Iwe Itọsọna Ti a Gba Nimọran
Ẹ̀kọ́ síwájú láti àwọn orísun ṣíṣí
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Abala ìwé ẹ̀kọ́
Arguments in Support of Restricting Imports
Explain and analyze various arguments that are in support of restricting imports, including the infant industry argument, the anti-dumping argument, the environmental protection argument, the unsafe consumer products argument, and the national interest argument
"Principles of Economics 2e: Arguments in Support of Restricting Imports" by OpenStax, OpenStax, Rice University, licensed under CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). Source: https://openstax.org/books/principles-economics-2e/pages/34-3-arguments-in-support-of-restricting-imports. Access for free at https://openstax.org/books/principles-economics-2e/pages/1-introduction
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Abala ìwé ẹ̀kọ́
How Governments Enact Trade Policy: Globally, Regionally, and Nationally
Explain the origin and role of the World Trade Organization (WTO) and General Agreement on Tariffs and Trade (GATT)
"Principles of Economics 2e: How Governments Enact Trade Policy: Globally, Regionally, and Nationally" by OpenStax, OpenStax, Rice University, licensed under CC BY 4.0 (https://creativecommons.org/licenses/by/4.0/). Source: https://openstax.org/books/principles-economics-2e/pages/34-4-how-governments-enact-trade-policy-globally-regionally-and-nationally. Access for free at https://openstax.org/books/principles-economics-2e/pages/1-introduction
Àwọn àjọ mìíràn ló tẹ̀ wọ́n jáde lábẹ́ ìwé àṣẹ ṣíṣí, a sì dá wọn lọ́lá bí wọ́n ṣe béèrè. Àwọn ìjápọ̀ ń ṣí ojú òpó wọn.
Ṣe Adaṣe Awọn Ibeere Idanwo Adaṣe
Ṣe o fẹ ṣe adaṣe awọn ibeere idanwo adaṣe nipa International Trade? Ṣe igbasilẹ ohun elo Green Bridge CBT lati wọle si awọn ibeere idanwo adaṣe ati awọn ayẹwo adaṣe kikun fun koko-ọrọ yii.
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Gbogbo ohun ti o nilo lati ṣe dara julọ ninu JAMB, WAEC ati NECO.
