International trade increases economic efficiency
Problem: Explain how international trade increases economic efficiency and how trade barriers and tariffs inhibit efficiency.
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Choose one country for analysis and respond to the following questions: Question 1. What type of trade restrictions does this country use?
Lists three arguments for trade restrictions. Since economists do not favor trade restrictions, make the case as an economist against trade restrictions for these three items.
What are the gains and losses of international trade? What happens when tariffs are imposed, in terms of the importing and exporting countries?
These are some of the topics I came up with that perhaps you could touch on with some references... Market summary, Market demographics, Market needs, Market trends, Market growth, pros and cons, and I guess a strategic concept to make this work..
Analyse the choices MNEs have for handling international trade payments. What are the main issues that affect their decisions? Explain your answer.
How would you try to convince him/her that this is probably not the right way to look at international trade and its effects on the country?
If our country can make everything better and cheaper than foreigners, why would we have any reason to be involved in international trade?
Why should countries engage in international trade rather than remaining self-sufficient and avoiding the unfair competition of low paid foreign workers?
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