Consider how the people in the United States benefit from trade. Explain how it affects people and businesses in what they consume.  Explain how it affects people and businesses in what they produce.

Q: What are some ways that governments can helppeople who lose from trade?

A: Nevertheless, reciprocal trade agreements often restrict rather than eliminate protectionist…

Q: Which of the following is international trade? a. Trade between regions b. Both (b) and (c) c.…

A: International trade is very beneficial for the economy of a country because it influences the GDP of…

Q: Brazil Poland Wine 10 20 Machines 10 10 The accompanying table gives maximum-output alternatives for…

A: Opportunity cost is the next best alternative.Opportunity cost shows the forgone units of one good…

Q: Explain what is meant by trade creation and how does it affect the welfare of a country

A: Trade creation means the economic phenomenon that happens when the establishment of a free trade…

Q: Explain the following facts about trade based from your own understanding. Limit your response in…

A: Trade can be characterized as the idea of purchasing and selling goods and services, with…

Q: what country is the most important trading partner with the United States?

A: International trade not only include the exports of a nation as imports of a country is also…

Q: Discuss the role of trade policy in your daily life.

A: Trade refers to the activity in which different countries come together and exchange goods and…

Q: Since many companies cut jobs or outsource overseas when they cannot compete with foreign companies,…

A: Free trade is a complex and contentious economic policy that has both proponents and critics. One of…

Q: In the United States, about 6 million manufacturing jobs disappeared in the first decade of the 21st…

A: Import and export restrictions are not present in a free trade system. A free trade agreement is a…

Q: Write a short synopsis of Texas’s changing economy and its role in international trade.

A: Economics as a subject deals with the allocation of scarce resources among humans with unlimited…

Q: Answer the question on the basis of the accompanying production possibilities tables for two…

A: Comparative cost advantage: - it is a principle of international trade given by David Ricardo which…

Q: Describe the economic system of the United States of America.Explain one advantage and one…

A: There is no dilemma on the fact that country U would be the largest economy in terms of its GDP. The…

Q: Explain how is the production structure (i.e. which goods are produced) affected in each country by…

A: Comparative advantage is an economic concept that means to the ability of a nation, person, or firm…

Q: We are going to use apply these terms to an example about Soybean production. Assume that the United…

A: Soybeans OC of producing Soybeans Sugar OC of producing sugar US 108 tons   20 tons   Brazil…

Q: The North American Free Trade agreement consists of which of the following countries?Choose one…

A: North American Free Trade agreement popularly known as NAFTA, is a multilateral trade agreement…

Q: Digital trade presents an opportunity for countries to develop. What are the factors that lead to…

A: Trade is defined as the exchange of goods and services between entities or economies voluntarily.…

Q: Using economic analysis, evaluate the statement that some gain, or "win" from free trade while…

A: Free Trade  Free Trade refers to the trade between 2 or more nations without any restrictions and…

Q: If you were to purchase a foreign car, how might trade barriers impact the price of that you have to…

A: Answer: Trade barriers: trade barriers refers to the restrictions imposed by the government to…

Q: Explain how two countries trading with which other gain from economic trade or mercantilism.

A: Globalization is defined as a process in which multinational firms, individuals, and governments…

Q: Discuss the importance of terms of trade for countries.

A: Terms of trade refer to the relative price of imports in terms of exports.

Q: how do trade agreements affect the US economy?

A: Trade agreements are defined as contractual agreements between states or countries concerning their…

Q: What are the reasons to invest in the Philippines? Explain

A: Reasons to invest in the Philippines are as follow:- Liberal and business-friendly economy- In this…

Q: Why are many goods sold in the United States produced overseas, often in several counties? a. There…

A: Outsourcing is a business practice in which a company hires a third party to perform tasks, handle…

Q: Focus on a current media source that narrows in on issues of Free Trade between the the United…

A: Free trade refers to a trade strategy that doesn't confine or restrict the imports or exports. All…

Q: The history of trade agreements shows the shifts over time between globalism and nationalism. Where…

A: History of trade agreements includes mostly nationalist rather than globalist agreements of trade…

Q: If a country closes off to trade and prices remain unchanged, what does that mean?

A: A closed economy refers to one that does not trade with other countries. As a result, the closed…

Q: Which of the following is the main reason behind doing international business *   A. To benefit…

A: International business refers to the sale and purchase of goods and services across borders. It…

Q: Explain what is the pattern of trade, by giving examples.

A: Trade patterns. Long-range path of a security or product future cost, diagrammed by defining one…

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: Alexandra’s Production Possibilities Schedule Natalia’s Production Possibilities Schedule Number of…

A: A country or a person exports the good in which it has a comparative advantage.

Q: Why might a low-income country put up barriers to trade, such as tariffs on imports?

A: Barriers to trade: These are the restraints imposed by the government on the flow of international…

Q: explain Socialism in the world and in the Philippines

A: Economic systems are the frameworks through which a country and its people govern economic…

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

A: Trade patterns between countries with similar productivity and factor endowments may indeed be…

Q: Choose a global event from the past 100 years, such as a pandemic, recession, or technological boom.…

A: With the increasing globalization of economic and trade activities, it's more important now than…

Q: explain the importance of the terms of trade to a nation and how changes in the terms of trade are…

A: Terms of trade:- The TOT is considered as a gauge of a nation's economic health, although it has the…

Q: Trade blocs are good for economic well-being and countries should try to join them.” Do you agree or…

A: Trade Blocs Groups of countries that form trade agreements between themselves. It may be of…

Q: I'm confused on how to calculate the gains from trade. I don't know what to do.

A: If both specialise gains from trade would be 60-20=40 tons of tea.

Q: How does competition, whether domestic or foreign, harm businesses?

A: Competition can harm a business in many ways.

Q: The corresponding graphs show the supply and the demand for strawberries in two countries: Berryland…

A: Free trade refers to a government policy that does not have to impose any restrictions on the number…