No Plagiarism Please!
• Distinguish between
• Analyze the role of
• Define trade barriers such as tariffs, quotas, embargoes, standards, and subsidies.
• Explain the causes, benefits, and consequences of trade barriers on consumers and producers.
• Analyze multinational entities in economic and social terms.
• Explain how changes in exchange rates can have an impact on the
• Identify tools used to measure levels of development and describe the characteristic of developed nations and less developed countries.
• Understand the role investment plays in development and identify the purpose of foreign aid.
• Explain how current globalization trends and policies affect labor markets, resources, and income distribution in different nations.
• Evaluate the arguments for and against free trade.
A nation has an absolute advantage if it can manufacture a wide number of products with the same resources that are available to another nation, whereas a nation has a comparative advantage if it can produce a specific good with better quality at a cheaper cost than another nation.
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