Lecture 5

-Terms of trade price of its (country's) exports relative to its important tot= p exports/p imports

-artificial demand: clubs keep people in the queue-->consumers think that the place is popular

  Pizzeria in Tallinn, limited quantity 90/per day--> after closed. Creates artificial demand, people want to go look and try this place

-Eu multifunctionality with Common Agricultural Policy=Cap

-->Explained by reserving way of life, supporting old farming ways. 

-Unfair Trade Laws

-Andi-Dumping Duties--> selling under fair prices