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

Q: Some Basic Facts about Trade?

A: Trade is a basic concept in economical activity, trade is defined as the exchange of goods and…

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: explain why trade occurs among the countries?

A: International trade is the exchange of goods and services between countries.

Q: Explain why trade Is Important.

A: In economics, trade can be understood as the buying and selling of goods and services in an economy.…

Q: Examine the meaning of the word "free" in "free trade" what is free about it? who is it free for?…

A: Imports and exports are not controlled under a free trade regime. It can also be defined as the…

Q: A common fallacy that is used to oppose trade is the idea that   a. “if it’s not broken, don’t fix…

A: International trade is considered beneficial for the countries as they can receive what they want…

Q: what groups tend to gain with free trade and which groups are the losers

A: Free trade: Free trade is one of the trade policy which means no restriction on import and export of…

Q: What are the benefits gained from trade? Calculate and show them.

A: An economy possesses a comparative advantage in the production of a good or service if it can…

Q: How have changes in technology contributed to the globalization of markets and production?

A: Globalization refers to the openness of economies to make an exchange of economic goods, cultural…

Q: What is protection and free trade

A: Protection and free trade are two contrasting strategies to international change and financial…

Q: What are the  pros and cons of free trade.

A: Free trade refers to the trade that is free from all artificial barriers. It signifies a…

Q: What are the main arguments for free trade?

A: The international trade refers to the sale and purchase of different goods and services across…

Q: In what ways has free trade helped the economy? In what ways has free trade hurt the economy?

A: Trade takes place between countries. In trade there is export and import of goods and services…

Q: What is the importance of the terms of trade?

A: Introduction - A key economic indicator of a company's health based on its imports and exports is…

Q: how do some workers benefit from trade and others suffer?

A: Trade refers to the exchange of goods and services between different nations. When a nation is…

Q: Why the gains from trade are less ?

A: When talking about gains from trade, it is generally based on international trade as countries make…

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: How can trade improve labor skills?

A: Trade results in countries specializing in the production of the product in which they have…

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: what is the pattern of trade (give an example)

A: Trade is defined as the exchange of commodities and services across the boundary of the country.

Q: How does specialization and trade benefit both individuals and nations?

A: Specialization and trade are major financial ideas that portray how individuals and nations center…

Q: What are the groups that are resistant to free trade and why?

A: A policy of trade that does not tend to restrict either imports or exports is known as the policy of…

Q: Effects of Free Trade and Restrictions

A: The idea of free trade implies that the market should be transparent in terms of international…

Q: The economic basis for trade is.

A: The economic basis for trade is the principle of comparative advantage. This principle states that…

Q: What is free trade? Write down merits & demerits of free trade.

A: In economics, trade explains an interaction between two or more people to make an exchange of…