global trade create competition which decreases prices contributes to why

Global trade create competition which decreases

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global trade create competition which decreases prices contributes to why america spends least on food global trade-economies 2 major types when considering agriculture production export dependent (major producer) import dependent contrasting economies us relies more on export (+) produce enough to export not relying on other countries for good self-reliant (-/+) depend on global economies as stable income failure in these economies affects us economy govt less involved in price adjustments that affect consumers japan relies on imports depends almost totally on imports for goods ( trade vocab tariff: tax (issued by receiving country) on imported goods; increases price for customer, decreases sales of product barrier: set by receiving country; standards for safety, quality, etc; can protect domestic industries and public health embargo: suspension of trade with one or more foreign countries; may be commodity specific tariffs govt imposed tax on imports protect comparable domestic goods by increasing cost of imported good consumers would buy imported good if it was cheaper need tariffs when foreign good is cheaper to produce than domestic wto(world trade organization)-helps negotiate tariff agreements between countries usually higher tariffs on processed goods; low on raw goods global trade-price competition why does us import same products it exports higher profit margin factors that impact trade growth and stability of world markets changes in world population economic growth
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income supplies prices exchange rates govt support trade protection policies impact of seasons on trade hemispheres make a difference now do not have to wait for seasonal produce (+) other countries can be first in market (+/-) competition with us products in us stores (-) consumer impact on trade you vote daily w $$$ growers will only produce what will be purchased imports as well quinoa current issue factors affecting food price supply production preferences ethanol vs good grain efficiency and surplus weather oil and fuel govt involvement demand income consumer preferences govt involvement impact of food prices benefits of high prices the poorest people however high prices represent trade agreements contracts btwn trading countries on conducting business goal: keep trade flowing eliminating trade barriers (or keeping them) upholding social and environmental objectives protecting consumers and environment wto 21 years purpose forum for govt to wto how it works facilitates agreements between countries by having the member countries make trade agreements as clear as possible allowing wto to renegotiate agreements settling conflicts btwn countries
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