14589158
Description
Mind Map by Jia Jun Neo, updated more than 1 year ago
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Created by Jia Jun Neo
over 5 years ago
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Reasons for trade
- DD-Side
- Diff in T&P
- Eg, preference
towards Japanese
cuisine → M of
Salmon Sashimi
- Eg, preference
towards Japanese
cuisine → M of
Salmon Sashimi
- ↑ Competitn
- Innovate &
Improve
quality of g&s
- ↑ Variety,
quality
and qty
- ↑ Variety,
quality
and qty
- ↓ Px
- Innovate &
Improve
quality of g&s
- Diff in T&P
- Engine for growth
- ↑ mkts, ↑ X → ↑AD
- ↑ I, ↑ RNY
- ↑ AS
- Tsf of tech →
↑ productive
capacity
- ↑ LRAS
- ↑ LRAS
- ↑ Competn
- ↑ R&D &
Efficiency
- ↑ R&D &
Efficiency
- Import
cheaper
factor input
→ ↓ COP
- ↑ SRAS
- ↑ SRAS
- Tsf of tech →
↑ productive
capacity
- ↑ mkts, ↑ X → ↑AD
- CA Theory
- Ability to produce gds
@ a lower opp cost
- Specialization of
g&s they have CA
in → exports them
- ↑ O/p
- Consume > PPC
→ ↑ Soc Welfare
- ↑ O/p
- Ability to produce gds
@ a lower opp cost
- EOS
- Esp small dom mkts
- IEOS
&
EEOS
- Expand their scale
or production
- ↓ unit
COP
- E.g socks
industry
in China
(EEOS)
- E.g socks
industry
in China
(EEOS)
- ↓ unit
COP
- Expand their scale
or production
- Gain CA
with EOS
- Esp small dom mkts
- Acquired
needed
- Imports of
Raw Materials
- Capital gds
- Imports of
Raw Materials
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