GMS 522 Lecture Notes - Lecture 3: Factor Endowment, Comparative Advantage, Ad Valorem Tax

63 views3 pages

Document Summary

Not all countries are dependent on int trade. (canada/china very dependent) Reasons a country might trade internationally to one country: culture, language, political system. Governance of int trade: national governments responsible for setting domestic int trade policies and monitoring imports and exports. Protectionism: measures adopted by national governments to unduly restrict trade and foreign investment. Only protectionism if it was banned to protect producers, not consumers. Can be applied to services as well: protectionist measures include. A tax that is imposed by a domestic government on an internationally traded product. Export tariff: imposed on a product which is being exported from a country. Transit tariff: imposed on a product which is being trans shipped from one country to another. A percentage of the market value of the imported product: specific: A dollar amount on each unit of the product which enters, leaves or is transshipped through the country: compound: Strict limit on the volume of imports coming in.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers
Class+
$8 USD/m
Billed $96 USD annually
Class+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
30 Verified Answers

Related Documents