Question

1. What is international trade?
2. What is globalization?
3. What are some benefits of international trade?
4. What are some barriers that prevent international trade?
5. What is absolute advantage?
6. What is comparative advantage?
7. Analyze the effectiveness of specialization in trade.
8. What is foreign exchange? Explain exchange rates.
9. What are the advantages and disadvantages of free trade agreements?
10. How many free trade agreements does the United States currently have?

Answer 1

In economics, the principle of absolute advantage refers to the ability of a party (an individual, or firm, or country) to produce a greater quantity of a good, product, or service than competitors, using the same amount of resources.

Comparative advantage is an economic law that demonstrates the ways in which protectionism (mercantilism, at the time it was written) is unnecessary in free trade.

Answer 2

What module would this be?

Answer 3

whattt>??

Answer 4

ru taking the course online?

Answer 5

no

Answer 6

Hmm okay then I have seen those questions before thats why I asked I take economics online.

Answer 7

International trade is the exchange of capital, goods, and services across international borders or territories, which could involve the activities of the government and individual. In most countries, such trade represents a significant share of gross domestic product (GDP).

Answer 8

yeahh

Answer 9

i need 3-10

Answer 10

Half the stuff your asking about is easy to google. just fyi

Answer 11

im not aloud to

Answer 12

The answer I just gave you were from google. Why can't you look them up?

Answer 13

http://www.businessdictionary.com/definition/international-trade.html

Answer 14

Comparative advantage - when a country has a lower opportunity cost than another country to produce a particular good or service.
Absolute advantage- This is when an individual, company, or country requires less physical resources than another to produce a particular good or service.

Answer 15

Barriers to Trade-Quotas, Tariffs, Embargos, Regulation, & Impact.

Answer 16

Benefits for international trade- Comparative advantage works its magic. (Countries will produce and export what is most efficient for them.) Competition has its own mojo. (Competition drives down prices, increases efficiency, and
encourages innovation. This is no different when talking countries instead of small town businesses.) Cooperation solves problems. (Some say problems between countries are more likely to be addressed when leadership has close economic ties through trade. They might make agreements that help prevent the illegal drug trade or even prevent war, for example.) Economic growth is promoted. (Growing employment options and wages can help reduce social problems such as unemployment and poverty.)