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Economic Theory of Trade - Coggle Diagram
Economic Theory of Trade
Your relationship with trade
can be
Domestic
International
Compensated exchange
Oil price rise
Increase in interest rate
economies without maintaining
Increase in external debts
regional crisis
Bilaterally
multilaterally
Expand trade and open new markets
Maritime republics
Pisa
Geneva
Venecia
Amalfi
Theories for trade
Mercantilism
Political and economic system
Countries are richer if they accumulate precious metals
Accumulation of wealth
Surplus
Absolute advantage
Comparative advantage
Toma en cuenta a Inglaterra y Portugal
Opportunity cost
Set of resources that we stop perceiving
Difference between absolute and comparative advantage
It lies in the opportunity cost
They specialize in the lowest cost
Companies do not specialize in the most productive
Bases of trade and its benefits
Technological advances
Remote negotiations
Globalization
Free trade treaties and agreements
Profits
balance in the international market
transaction control
balance in scarcity
product offer
Stable prices
Technological change
saving technical progress
workforce
neutral technician
capital
Types of tariffs