Written Asignment Trade 1.docx - TreyTaylor...

This preview shows page 1 - 2 out of 3 pages.

Trey Taylor International Trade 4357 Professor James Lake While there are many trade-offs concerning the interactions of international trade, the  process helps maximize world economies and gives people many benefits that otherwise that  would not be accessed. Natural resource-rich countries with an oversupply of resources can  provide to other countries who have a higher demand for such resources. Large population  countries with massive labour forces can give necessary production processes which  international trade can supply. Lastly, countries with highly educated labour forces but limited  resources rely on trade to provide essential goods in their markets. The base of any economy is the materials used in the production of food, energy, or any  tangible goods. Because some countries are not endowed with assets, they must rely on  international trade to attain them or do without them in other ways (thus losing utility). Countries like Russia, Saudi Arabia, Canada, et al. are rich in natural resources from oil, coal, precious 
Image of page 1

Subscribe to view the full document.

Image of page 2

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern