In context of international trade explain import substitution and export promotion policies

Q: Explain why international trade is important to the economy.

A: International trade is the purchase and sale of products and services by companies in different…

Q: Discuss the various trade theories that help explain Ecuador’s competitive position in exporting…

A: Comparative cost advantage:  This theory is given by Ricardo , In this theory if the country have…

Q: Explain the difference between free trade and protectionism

A: International trade: - it means the buying and selling of goods and services with other countries.

Q: Discuss the arguments for and against free trade

A: Free trade can also be described as the application of the free market concept to international…

Q: Discuss the advantages and disadvantages in participating in international trade

A: International trade takes place when the countries interact with each other and transport goods and…

Q: What does import quotas and local content requirement mean for importing economies? What does it…

A: Answer in below step

Q: What is meant by the gain from trade. Explain in relation with international trade.

A: Introduction The exchange of products and services between two or more parties is referred to as…

Q: Methods of export promotion

A: Export promotion is the policy adopted by government of a nation to promote its exports so that its…

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: Explain the impact of intra and inter-industry trade on a country;

A: Intra industry trade implies trading based on comparative advantage ie lower opportunity cost would…

Q: Please show the gains from trade for producers and consumers in bot countries Can we see a catching…

A: Trade: It refers to the goods and services that the economy exports and imports. The more the…

Q: Describe the economic impacts of trade.

A: Trade refers to the exchange of goods, services, and capital between countries, and it can have…

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: Explain the role that quotas and tariffs play with international trade. Give a specific well…

A: The exchange of commodities and services between countries is thought as international trade.…

Q: Specialization and Trade Comparative Advantage Imports and Exports Foreign Exchange Globalization…

A: The concept that affects me the most is imports and exports. This is the most important concept and…

Q: Describe benefits from international trade.

A: International trade refers to the exchange of goods and services between countries. This…

Q: Links between trade and inequality

A: Trade: Trade is an economic activity which includes the buying and selling of goods and services.…

Q: The figure shows Mia's and Mario's PPFS. Today, Mia and Mario produce 6 dishes of pasta and 6 pizzas…

A: Specialization refers to the process where individuals, firms, or regions focus on producing a…

Q: Current trends and issues in international trade

A: Foreign trade has increased the market's competitiveness. As a result, pricing becomes more…