2016 CSEC Economics (Section 7 - International Trade) Karteikarten am International Trade, erstellt von Nikolas Reece am 30/05/2016.
|
|
Erstellt von Nikolas Reece
vor etwa 8 Jahre
|
|
Schließen
|
|
Erstellt von Nikolas Reece
vor etwa 8 Jahre
|
|
International trade
open vs closed economy
Reasons for International Trade:
Scarcity of Resources
Reasons for International Trade:
Specialisation
Reasons for International Trade:
Earn Foreign Exchange
Reasons for International Trade:
larger Market Size
Reasons ofr International Trade:
Greater variety of good
Reasons against IT:
Unfair competition to infant industries
Reasons against IT:
Dumping
Reasons against IT:
Current Account Deficits
Reasons against IT:
4. Growing dependency on essential imports
Reasons against IT:
Depletion of non-renewable resources
Protectionism (Barriers to trade)
Barriers to Trade:
Tariffs & Customs duties
Barriers to Trade:
Quota
Barriers to Trade:
Embargo
Other Protectionism tools:
Subsidies
Other Protectionism tools:
Restricting import liscense
Other Protectionism tools:
Devaluation
Other Protectionism tools:
Exchange Control
Balance of Payments
Deficit (unfavourable) balance
Surplus (favourable) balance
The Current Account
visible trade
invisible trade
transfers
income
Balance of Trade
The Capital Account
Official Capital Flows
Private Capital Flows
Official Reserve/Financing Account
Impact of Balance of Trade deficit:
1. Depletion of foreign exchange reserves
Impact of Balance of Trade deficit:
Increased government borrowing
Impact of Balance of Trade deficit:
Unemployment
Impact of Balance of Trade deficit:
4. Improvement in the standard of living
Impact of Balance of Trade deficit:
Currency Depreciation
Balance of Trade Surplus Impact:
Balance of Trade Surplus Impact:
Balance of Trade Surplus Impact:
Balance of Trade Surplus Impact:
