Week 8 International Trade Xeco212

Week 8 International Trade Xeco212 - International Trade...

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International Trade Concepts International Trade Concepts Gregory Mann Axia College of University of Phoenix Xeco 212 1
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International Trade Concepts “Opening Rodmania’s borders to international trade and investment will lead to greater benefits for the country.” President Jacobs has expectations for his country and the goals are to create more choices, quality and prices for Rodmania and its economy. Many factors will need to be considered in order to contribute to a successful initiative for the country of Rodmania and President Jacobs. Determining whether or not to enter into international trade is an important economic decision and the decisions will have significant impact on relations with Rodmania and its bordering countries. Uthania, Alfazia and Sunitze are the partners in international trade market with Rodmania. Based on the application of various trade concepts, Rodmania should gain a comparative advantage for consumers, producers and create a balanced international trade market. There are many advantages and disadvantages when applying trade concepts to the business of trade between neighboring countries. An advantage of these concepts is the availability of negotiating free trade agreements (FTAs). FTAs between countries assist the economy by opening up trade in more markets. The addition of bordering countries to Rodmania’s trade market will increase demand for products that are produced in Rodmania. In addition to the increased trade volume, FTAs will enable Rodmania more access to trade previously reduced by trade barriers. The benefits also allow for new opportunities for investments. The other countries Xeco 212 2
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International Trade Concepts involved in trade with Rodmania will increase competition of production. Consumers will have a wider range of products available to them and these
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This note was uploaded on 10/21/2010 for the course ECO 212 AACL0RVXH3 taught by Professor Shivers during the Spring '10 term at University of Phoenix.

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Week 8 International Trade Xeco212 - International Trade...

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