International Trade Simulation

Essay specific features

 

Issue:

Business

 

Written by:

Leslie F

 

Date added:

June 23, 2012

 

Level:

University

 

Grade:

B

 

No of pages / words:

3 / 807

 

Was viewed:

5282 times

 

Rating of current essay:

 
Essay content:

This stimulation also covers the theory of comparative advantage, the impact of quotas, tariff, and dumping, and the reasoning behind free trade agreements (FTAs). Opportunity Costs and Comparative Advantage Comparative advantage is dynamic and can change over time. Factors like improvements in technology, investment in research and development, change in quantity or quality of product, inflation, or import restrictions (tariffs and quotas) can change the comparative advantage of a country in comparison with another...
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Factors like improvements in technology, investment in research and development, change in quantity or quality of product, inflation, or import restrictions (tariffs and quotas) can change the comparative advantage of a country in comparison with another. A country should specialize in the production and trade of commodities that it can produce at a lower opportunity cost with other countries...
displayed 300 characters

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