UTampa BUS 101 Exam 2 with 100% correct answers 2024
mports goods produced abroad and sold domestically Exports Goods and Services sold to other countries Trade Surplus exports > imports Trade deficit exports< imports comparative advantage specializing in the production of goods or services with the lowest opportunity cost Opportunity cost the value of the next best alternative Advantages of trade Increases competition lowers prices encourages innovation Provides access to new markets Diversifying across different markets Gains from trade through specialization Disadvantages of trade Potential negative impact on some domestic firms Loss of jobs in some industries Greater income inequality Negative impact on the environment Physical and Technical Trade Barrier A physical feature that makes trading difficult ex: geological barriers, transportation costs, non-tradable goods and services Political Barriers Tariffs, Quotas, Non-tariff barriers World Trade Organization (WTO) - negotiates trade rules - settles trade disputes
Escuela, estudio y materia
- Institución
- University Of Tampa
- Grado
- ACC 202
Información del documento
- Subido en
- 30 de junio de 2024
- Número de páginas
- 13
- Escrito en
- 2023/2024
- Tipo
- Examen
- Contiene
- Preguntas y respuestas
Temas
-
utampa bus 101 exam 2 with 100 correct answers