Please enable JavaScript.
Coggle requires JavaScript to display documents.
Chapter 16 (Advantages/Disadvantages of International Trade (Bring…
Chapter 16
Advantages/Disadvantages of International Trade
Bring rivalries against nations
Equalizes price of goods scross the world
European Union
Headquarters in Brussels Belgium
Established in 1993 by the Maastricht Treaty
Comparative Advantage
Goods at lower relative marginal cost prior to trade
Developed by David Ricardo
NAFTA
Agreement between Mexico, Canada, U.S
Exports and imports
Collectivization vs. Privatization
Privately owned entity
Used in former Soviet Union and manufacturing under Stalin
Globalization vs. Protectionism
Illegal immigrant employment and other black market employment arrangements
Saving and moving money offshore
Misery Index
Created by Arthur Okun
Adjusts seasonally
