interenationa

interenationa - Economics HL Notes – Section 4...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Economics HL Notes – Section 4: International Economics Graeme ([email protected]) [ 1 ] Section 4: International economics Contents Reasons for trade .............................................................................................................................. 3 Absolute Advantage .......................................................................................................................... 3 Comparative Advntage ...................................................................................................................... 3 Free trade and Protectionism ............................................................................................................ 4 Tariffs ............................................................................................................................................ 5 Quota ............................................................................................................................................ 5 Subsidy .......................................................................................................................................... 5 Voluntary Export Restraint............................................................................................................. 5 Arguments for Protectionism............................................................................................................. 6 Arguments against Protectionism ...................................................................................................... 8 Globalisation ..................................................................................................................................... 8 Trading blocs ..................................................................................................................................... 9 Free Trade Areas (FTAs) ................................................................................................................. 9 Customs Unions ............................................................................................................................. 9 Common markets .......................................................................................................................... 9 Trade creation and trade diversion .................................................................................................... 9 Obstacles to achieving integration ................................................................................................... 10 World Trade Organization (WTO) .................................................................................................... 10 Success and failure viewed from different perspectives ............................................................... 11 Balance of payments ....................................................................................................................... 11 Current account ........................................................................................................................... 11 Current account ....
View Full Document

{[ snackBarMessage ]}

Page1 / 18

interenationa - Economics HL Notes – Section 4...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online