WTO’s rules

Q: The most difficult negotiations under the WTO relates to the agricultural sector. Why? Explain in…

A: The representative pertinence of the dealings on horticulture identifies with the authenticity of…

Q: Hours of Labor Required to produce X and Y Country A Country B Good X 15 12 Good Y 30 10

A: The theory of comparative advantage was given by David Ricardo. According to David Ricardo gains…

Q: What are the barriers to international trade? Explain each in detail with examples

A: The barriers to international trade are the restrictions on the international trade between…

Q: Define International Trade and what are the major issues in International trade? Explain in detail.

A: The trade is a process of exchanging goods and services between the seller and the buyer at a…

Q: Unequal distribution of resources is one of the main reasons for international trade. True False

A: The unequal distribution of resources is one major reason for international trade.

Q: The World Trade Organization is controversial because it is dominated by small, developing nations.…

A: The world trade has been said to be unfair by the small and developing nations, because it caters to…

Q: Make the case in favor of international trade based on comparative advantage. Who are the winners…

A: Hey, Thank you for the question. According to our policy we can only answer 1 question per session.…

Q: n a U.S. employer does business abroad, whose laws govern the business?   a)only U.S. law that has…

A: The U.S. company is impacted by the political and legal environment if the country in which it…

Q: What is a subsidy we have in the United States and how is that related to protectionism?

A: A subsidy, sometimes known as a government incentive, is a type of financial help or support given…

Q: (a)Use consumer and producer surplus measures to illustrate who gains and who loses when markets are…

A: Consumer surplus is the difference between the willingness to pay and the price paid for the good.…

Q: What are the four unresolved issues in international trade negotiations at WTO?

A: WTO: It deals with the global rules of trade between nations.

Q: The WTO discourages the use of quotas because they are:

A: World trade organization is the international organization which deals with the rules and…

Q: Explain the impact of education on trade.

A: First of all the term trade stands for the basic economic activity which represents the buying or…

Q: When one country joins a free trade area with a common external tariff, it causes: a. Trade…

A: When talking about free trade aggreement, it is the contract between two or more countries to allow…

Q: What area represents the loss of producer's surplus after free international trade? A. CHGF B. AEG…

A: From the given diagram, Pre-trade :- Domestic price = H Consumer surplus = area of ∆ACH Producer…

Q: used (or are often used

A: Numerous economists support free trade. Be that as it may, in certain conditions, there are…

Q: Is international trade likely to have roughly the same effect on the number of jobs in each…

A: The degree and the direction of International Trade which a nation performs with the rest of the…

Q: What are the trade barriers/frictions (natural, man-made)

A: Trade barriers affects the volume of international trade of each country with the others. .It…

Q: How might  international trade impact the labor demand curve and wages.

A: The economic transactions that take place between countries are referred to as international…

Q: Production and consumption of Smartphones and Smart cars for the Republic of Westein and Republic of…

A: The Economic transaction of goods and services in between the countries is international trade.

Q: Highlight the basis for trade between two countries with identical demands and different production…

A: Production possibility curve States the tradeoff which are related to resources being allocated in…

Q: What is The International Monetary Fund, and how does it facilitate world trade

A: World trade plays an important role in the economic growth of every participating nation by…

Q: Define and compare the following, Autarky, Free Trade and Restricted Trade.

A: Autarky : Autarky can be defined as the situation in which a country cannot trade with other…

Q: Discuss the relevance of the World Trade Organisation (WTO) in 2020.

A: WTO is an organization to promote trade between countries and also to the intermediate trade dispute…

Q: The World Trade Organization provides legally binding ground rules for international commerce and…

A: The WTO was formed in 1995 and it replaced the GATT. The WTO sets rule for international trade and…

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: _______ The World Trade Organization was created bythea. Kennedy Round.b. United Nations.c. League…

A: There are many options given. We will eliminate the incorrect options. Like this, we will find the…

Q: Discuss three barriers to trade and their impact.

A: Trade barriers refer to the restriction imposed by the government to influence the level of trade.…

Q: What economic impact have pandemics such as COVID-19, had on global trade

A: Globalization refers to integration of a country with rest of the world. Globalization includes…

Q: Effects of Free Trade and Restrictions

A: The idea of free trade implies that the market should be transparent in terms of international…

Q: Which is more effective in restricting trade, quota or tariff?

A: Quota and trade, both are the government strategies or policies to restrict trade, especially…

Q: Which ONE of the following trade restrictions is likely to be the most transparent for…

A: When talking about international trade, countries practice some trade restriction policies as the…

Q: If a country closes off to trade and notices that the number of firms in an industry doubles in…

A: The growing returns might drive trade flows between nations with similar productivity and factor…