international Trade Saq

A country should specialize in goods it can produce most efficiently.

Each country should specialize in goods it can produce more efficiently than other countries.

The ratio of export prices to import prices.

<p>The law of diminishing marginal returns.</p> Signup and view all the answers

<p>Perfect mobility.</p> Signup and view all the answers

<p>Transport costs.</p> Signup and view all the answers

<p>Self-sufficiency.</p> Signup and view all the answers

<p>Suitable for agriculture (e.g., beef, lamb).</p> Signup and view all the answers

<p>12.5% low corporation tax.</p> Signup and view all the answers

<p>High availability and low training costs.</p> Signup and view all the answers

<p>Access to fish and other resources.</p> Signup and view all the answers

<p>It is the international language of business.</p> Signup and view all the answers

<p>Improved productive capacity.</p> Signup and view all the answers

<p>Avoids trade barriers.</p> Signup and view all the answers

<p>It attracts investment and business.</p> Signup and view all the answers

<p>Equity in international trade and better trading conditions for developing nations</p> Signup and view all the answers

<p>Ability to compete successfully in international markets.</p> Signup and view all the answers

<p>Increase production costs and prices of exported goods.</p> Signup and view all the answers

<p>To maximize efficiency and benefit from specialization.</p> Signup and view all the answers

<p>The ability to easily switch factors of production, such as labor.</p> Signup and view all the answers

<p>It supports agriculture and other industries requiring significant water resources.</p> Signup and view all the answers

<p>It enhances investor confidence and business stability.</p> Signup and view all the answers

<p>Makes Eurozone exports more attractive in the UK.</p> Signup and view all the answers

<p>Physical goods leaving Ireland, bringing money in (e.g., beef).</p> Signup and view all the answers

<p>Physical goods entering Ireland, with money leaving (e.g., cars).</p> Signup and view all the answers

<p>Services provided to foreign customers, bringing money in (e.g., French tourists in Dublin).</p> Signup and view all the answers

<p>Services provided to Irish people abroad, with money leaving (e.g., Irish tourists in Paris).</p> Signup and view all the answers

<p>A record of all economic and financial transactions between a country and the rest of the world</p> Signup and view all the answers

<p>Economic growth and high export demand.</p> Signup and view all the answers

<p>Increased imports, domestic economic issues, and national debt rise.</p> Signup and view all the answers

<p>To create jobs, protect industries, and prevent dumping.</p> Signup and view all the answers

<p>Selling goods abroad at lower prices than at home.</p> Signup and view all the answers

<p>Engages in international trade, importing and exporting goods and services</p> Signup and view all the answers

<p>Injects money into the economy.</p> Signup and view all the answers

<p>Creates jobs in exporting firms.</p> Signup and view all the answers

<p>Pollution from transportation.</p> Signup and view all the answers

<p>Vulnerability during global disruptions (e.g., COVID-19).</p> Signup and view all the answers

<p>An economy that does not engage in international trade (e.g., North Korea).</p> Signup and view all the answers

<p>A tax on imports to make them more expensive than domestic goods.</p> Signup and view all the answers

<p>A limit on the amount of goods that can be imported.</p> Signup and view all the answers

<p>A ban on trade with a particular country.</p> Signup and view all the answers

<p>By lowering the price of goods in foreign markets.</p> Signup and view all the answers

<p>Making exports cheaper by lowering the value of the national currency.</p> Signup and view all the answers