Summary
Summary International Trade: A* A-level notes
- Course
- Institution
These notes provide you with all the required knowledge (and some more) on the International Trade topic, for the AQA A-level Economics Paper 2&3
[Show more]
Seller
Follow
AlexKKK
Reviews received
Content preview
International TradeIitйдт
Higher coupetifinenessprovides incentives for innovations
Difference in access to resources
д China 801 of rare earth resources
To
get foreign currency to be able to buygoods from other
countries
Access to cheapgoods services
Economies of scale
Allows countries to specialise
Greater choice
More efficientallocation of resources
Met early tradepolicy
Balance of Trade surpluses and the acclamation ofprecious metals
goods versus exports of raw materials
Exports of finished
Imports of finished goodsversus imports of raw materials
Mercantilistpolicies tariffs andquotas
Colonialism and war
Theory of an absolute advantage by Adam Smith
tableau outage if it canproduce more of a
than other countries using the want of resources
good sane
, фу Cars Bikes
ИК 2 24 absoluteadvantage in bikes
US 4 10 absoluteadvantage in cars
Outputwill
но в 34
specialisation
Outputwith 8 48
specialisation
Gaius вот 2 14
trade
For UK to benefit I cars 12 bikes
For Us to benefit I car 2.5 bikes
For both to benefit Icar worth between 2.5 and 12bikes
it outofbounds one of the countries is exploited
USA
S
G
a trade
io io so io its bikes
For both countries to benefit the terms of trade must lie between
the twoopportunity costs In this case I car must be worth
between 2,5 and 12 bikes The benefit is distributedevenly when
I car is worth 6 bikes
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller AlexKKK. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.76. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
52510 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now