International Trade notes

23 notes by 14 users

This International Trade page gathers notes made by GoConqr users, covering topics from comparative advantage to trade protection and international institutions. University students and professional candidates, school students, and teachers can use them to study trade concepts and policies. There are over 20 notes spanning school and university levels. Pick a topic and start reading.

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15.1 Economic integration Economic integration: -economic co-operation between countries and co-ordination of their economic policies leading to increased economic links between then -occurs because of the numerous benefits that may be derived... Erin Ching
17.3 Trade strategies for economic growth and development Import substitution: also known as import substitution industrialisation -a growth and trade strategy where a country begins to manufacture simple consumer goods for the domestic market to promote its domestic industr... Erin Ching
17.2 The role of international trade barriers To be considered successful as an engine for growth as well as an engine for development: -increased rates of economic growth based on production of goods exported to foreign markets -increased incomes through improve... Erin Ching
13.4 Restrictions on free trade: trade protection Trade protection: -variety of methods used by governments to restrict international trade  -involves government intervention in international trade through trade barriers to prevent the free entry of im... Erin Ching
13.5 Arguments for and against trade protection 1. producers and workers through the increase in domestic employment are the only groups that gain from all types of trade protection 2. the gain of producers has as costs in terms of higher costs of production a... Erin Ching
Economics Trade and Midterm 2 Details why ppc curve in that shape?For 1 additional unit of gun, how many or much butter that I need to give upLow and High Opportunity costWho has absolute advantage in what?* What is the trading posibility curve of mexico?... Anusha Komati
Specification Content Globalisation The causes of globalisation The main characteristics of globalisation The consequences of globalisation for less-economically-developed-countries (LEDC's) and for more-economically-developed-countries (M... Zoe WATKINS
13.1 The benefits of trade Trade: -involves the buying and selling of goods and services across international boundaries Benefits of trade:  1. increase in domestic production and consumption as a result of specialisation: specialisation o... Erin Ching
International Institutions - Governing Trade GOVERNING TRADE AND DEVELOPMENT The UN has a framework to manage the international political economy - IMF, WTO and WORLD BANK GATT - idea was to create a permanent multilateral forum for countries to discuss issues t... Annie May Jackson
Comparative advantage DefinitionsA country holds an absolute advantage when it can produce a good or service at a lower cost than another.Comparative advantage occurs when one country can produce a good or service at a lower opportunity co... jamesofili
Untitled Terms of trade The terms of trade measure the relative prices of the products that we export compared to the prices of goods and services we import   Comparative advantage: countries should specialise in producti... Andrew Kang
The Law of Comparative Advantage The Law of Comparative Advantage The Law of Comparative Advantage states that a country should specialise in the production of those goods at which it is relatively most efficient, and obtain its other requirements th... eleanor.adamandi
Introduction to International Trade International Trade International trade is the economic interaction among countries involving the exchange of goods and services.In other words, it describes the system whereby countries sell exports and buy imports.A... eleanor.adamandi
Basics for Trade Definitions and Key Terms Week 1 and 2: Comparative Advantage The Production Possibility Curve captures all maximum output possibilities for two (or more) goods, given a set of inputs (or resources) if inputs are used efficiently. An Efficient... maddie.rapisardi
The Theory of Comparative Advantage - created from Mind Map Principle of Absolute Advantage Principle of Comparative Advantage Free trade and specialisation huifang.por
Government Intervention in International Trade Methods for Government Intervention in International Trade TariffsThis is a tax on imports, and is also known as import taxes/levies or customs duties.It can be either ad velorum (a % of selling price) or a speci... eleanor.adamandi
Globaisation Globalisation- an expansion of world trade in goods and services leading to greater international interdependence. Countries are becoming less independent and more interdependent.Interdependence- when countries depend... daisy0gillman
Chapter 18 - International Trade Chapter 16 - Answers to review questions3. Absolute advantage is the ability to produce more of a good or service than competitors using the same amount of resources Comparative advantage is the ability to produce a g... emma.charleswort
Fairtrade downsides Fair trade often creates divides within communities as not all workers and farmers qualify to be part of a certified cooperative or group. Fairtrade does not ensure better wages. For instance, a report by SOAS, Univer... Sara Marlin
Methods of Protectionism Tariffs Q1 is produced domestically and Q1Q4 is imported The introduction of a tariff shifts the price of imported goods from P2 to P1 Now, Q2 is produced domestically and Q2Q3 is imported This increases demand for do... jamesofili
World Trade Organisation World Trade Organisation The World Trade Organisation is responsible for dealing with the rules of trade between nations at a global or near-global level. The WTO helps to resolve conflicts between nations and provide... jamesofili
balance of payments The balance of payments is a statement of all transactions made between entities in one country and the rest of the world over a defined period of time, such as a quarter or a year The current account i... Skye Chetty
Patterns of Trade - THEME 4 Pattern of Trade is the volume of trade that is conducted and to what country. When we consider the pattern of trade we can focus on: Geographical pattern of trade The countries with whom a nation trades Includes focu... Yassine Leduc

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All International Trade resources Quizzes 59 Mind maps 296 Flashcards 125

About international trade notes

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Using International Trade notes

Start with Introduction to International Trade for an overview of trade between countries. For key terms, follow it with Basics for Trade Definitions and Key Terms. As you read, write down the distinctions you want to remember, then explain them in your own words without looking at the notes.

To explore a particular idea, compare The Law of Comparative Advantage with Comparative advantage. For policy, Government Intervention in International Trade introduces methods including tariffs, while Methods of Protectionism looks at tariffs and their effects on domestic production and imports.

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Notes give you written explanations to return to when a term or argument is unclear. After reading, switch to a mind map on the unit page to organize related ideas visually, or try a quiz to check what you can recall. Return to the relevant notes when you find a gap.

Choose a note that matches the topic you are studying and use it as your starting point.

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Which note is a useful starting point?

Introduction to International Trade is a starting point if you want an overview of trade between countries. If you are focusing on vocabulary, try Basics for Trade Definitions and Key Terms alongside it. You can then move to a more specific topic, such as comparative advantage or protectionism.

What topics do the notes cover?

The notes cover comparative advantage, government intervention, protectionism and economic integration. They also include material on the World Trade Organisation, international institutions and the balance of payments. Open a note that matches your current topic, then use the other titles to find related ideas.

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Yes. Every note listed here is free to open and study, and you do not need an account to use it. A free account can also save quiz scores and let you make your own quizzes, mind maps, flashcards and notes.