need a brief/short and understandable explanation as to how the development of the world trading system changed over a period of several centuries.

Q: Explain the difference between free trade and protectionism

A: International trade: - it means the buying and selling of goods and services with other countries.

Q: What is the importance of THE NORTHWEST PASSAGE to international trade?

A: The Northwest Passage (NWP) is a shipping transportation route that interfaces the Pacific and…

Q: In today's world, Globalization along with international trade came under attack after the spread of…

A: The effects of globalisation go well beyond only lowering trade barriers; they also include bringing…

Q: With the emerging age of trade together with the drawback of transactions due to the global…

A: Answer -  With the emerging age of trade together with the drawback of transaction due to global…

Q: Can you answer this please? Explain the concept of a trade embargo and its effect on the country…

A: We will answer the first question since the exact one was not specified. Please submit a new…

Q: Explain three possible theories of international trade.

A: International theories state to the business that sets near national borders. It is how nations…

Q: Discuss the challenges of international trade in the 21st Century

A: International trade is the buying and selling of goods across international borders.

Q: Republic Act 11203 or the Rice Tariffication Law was passed in the Philippines last 2019. With the…

A: Positive effects of the Law:- Cheap retail prices charged to consumers:- As there is no boundation…

Q: A) the world price is much greater than the country's opportunity cost for the good

A: The opportunity cost of producing a good refers to the units of output of other goods that must be…

Q: Discuss the different types of trade impediments and barriers. What are they, what are considered…

A: Trade barriers are imposed in order to protect the domestic market so that the products produced…

Q: Now find the free trade equilibrium, assuming no transportation costs or tariffs, by setting P = P*…

A: The answer of only (d) is given here. Free trade, in classical theory, is known as the best way to…

Q: Define the term Trade agreement?

A: International trade: - it means the buying and selling of goods and services with other countries.

Q: There are many International Trade Theories. But none of these Theories adequately explain the…

A: THEORIES OF INTERNATIONAL TRADE AND INVESTMENT there are several economists who have given some…

Q: T F The United States has enjoyed a trade surplusduring the last two decades.

A: A trade surplus is a situation that results when the export of a country is more than the imports of…

Q: International trade has been a great boon for many countries and, in general, has been more…

A: Exchange of goods, services and capital from one country to another country or across international…

Q: 23. According to Krugman, Obstfeld, and Melitz, assert that despite income distribution effects that…

A: Since you have posted multiple questions, we will answer question 23 for you since 24 is a Research…

Q: explain why is international trade more difficult and risky than domestic trade

A: When an economy opens its boundaries for trade with the rest of the world, it can make domestic as…

Q: Suppose a nation is considering two alternative policies to protect a domestic industry from world…

A: Tariffs are taxes on imports. They really raise the costs of those imports, providing an edge to…

Q: Explain how tariffs can serve as a barrier to trade and identify at least two benefits of reducing…

A: A tariff is a tax that has to be paid on goods coming into a country from other countries. It is a…

Q: Define protectionism and explain non-tariff barriers to trade. Who are the major beneficiaries and…

A: When a government legislates policies to reduce or block international trade it is engaging in…

Q: "In a two-country and a two-commodity world, explain following effects on home country's terms of…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Describe how the Philippines may use the Heckscher-Ohlin Trade Theory to develop its international…

A: The Heckscher-Ohlin trade theory beleive in comparative advantage in terms of input resources so…

Q: What are some of the economic and noneconomic rationales governments use to intervene in trade?…

A: Macroeconomics is a part of economics that deals with production, decision and allocation concerning…

Q: If Indonesia (which is a small country) imposes an import tariff on textile imports, we can conclude…

A: Import tariff refers to the tax imposed on the amount of goods purchased by the domestic residents…

Q: 3.3 Highlight the main benefits of increasing trade for the South African economy

A: International trade is a crucial factor to consider while examining a nation. The nation's…

Q: Describe how the Philippines may use the Heckscher-Ohlin Trade Theory to develop its international…

A: The economies around the globe tend to interact with each other. The nations interact with each…

Q: The North American Free Trade Agreement (NAFTA) is seen by some as a form of protectionism because…

A: NAFTA (North American Free Trade Agreement) is formed in the year of 1994. this agreement did…

Q: In 2009, US imposed a tariff of 35% on radial car tires imported from China. The winners from this…

A:

Q: Sometimes, excessive steps of a nation to protect domestic producers and employment can create a…

A: In the mentioned question we are asked whether protection is good or free trade and personalized…

Q: Suppose trade protectionism is imposed, and a tariff is introduced to the market for butter. We can…

A: Protectionism is a term used to describe government policies that limit foreign trade to benefit…

Q: The main objective of protectionist trade policies is typically to... a. Maximise world production.…

A: The protectionism can be defined as a policy of protecting domestic industries against the foreign…

Q: Put these ways of conducting global trade in order from the least risky first to the most risky…

A: Global trade or International Trade is defined as the exchange of goods and services and capital…

Q: Explain in detail the key three issues affecting global trade at present?

A: The transfer of capital, goods, and services across international borders or territories in response…

Q: Are the gains from international trade more likely to be relatively more important to large or small…

A: Gains from international trade refer to the benefits that are received by economic agents when…

Q: What are Paul Krugman's contributions to the International Trade Theory? what is paul krugman's…

A: Globalization had the impact of fostering and growing connections among various areas and…