ECON MICRO
ECON MICRO
5th Edition
ISBN: 9781337000536
Author: William A. McEachern
Publisher: Cengage Learning
Question
Book Icon
Chapter 21, Problem 3.4P
To determine

Benefits and drawbacks of international trade for the citizens in a developing country.

Concept Introduction:

The exchange of goods and services between two or more countries of the world is known as international trade. Trade refers to both import and export of goods and services for cash or cash equivalents.

Blurred answer
Students have asked these similar questions
7. Japanese labor productivity is roughly the same as that of the United States in the manufacturing sector (higher in some industries, lower in others), while the United States is still considerably more productive in the service sector. But most services are nontraded. Some analysts have argued that this poses a problem for the United States,because our comparative advantage lies in things we cannot sell on world markets.What is wrong with this argument?
Economics #1 What are the five key international expansion decisions? Use an example to explain the process and briefly describe the steps within. What are some of the related common risks when considering international expansion?
9   How free trade zones or special economic zones affect exports.
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
  • Text book image
    ECON MICRO
    Economics
    ISBN:9781337000536
    Author:William A. McEachern
    Publisher:Cengage Learning
    Text book image
    ECON MACRO
    Economics
    ISBN:9781337000529
    Author:William A. McEachern
    Publisher:Cengage Learning
    Text book image
    Principles of Economics 2e
    Economics
    ISBN:9781947172364
    Author:Steven A. Greenlaw; David Shapiro
    Publisher:OpenStax
Text book image
ECON MICRO
Economics
ISBN:9781337000536
Author:William A. McEachern
Publisher:Cengage Learning
Text book image
ECON MACRO
Economics
ISBN:9781337000529
Author:William A. McEachern
Publisher:Cengage Learning
Text book image
Principles of Economics 2e
Economics
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:OpenStax