International Trade

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  • Created by: Christie
  • Created on: 28-11-12 15:21
Give 3 examples of trade unions among countries
Asia Pacific economic cooperation (APEC) Southern African customs Union (SACU) Europe Union (EU)
1 of 5
What does the WTO (world trade organisation) do?
Reduce barriers to trade and to ensure that countries keep to the agreements they have made
2 of 5
What is a benefit of countries that export?
Economies of scale: as output grows, businesses can produce at lower average cots than before.
3 of 5
What are the 3 constraints for seeking international markets?
Extra costs Extra risks Time delay
4 of 5
Name 2 types of trade barrier
Tariff - tax on imports Quota - physical limit on amount of a certain product allowed into a country
5 of 5

Other cards in this set

Card 2

Front

What does the WTO (world trade organisation) do?

Back

Reduce barriers to trade and to ensure that countries keep to the agreements they have made

Card 3

Front

What is a benefit of countries that export?

Back

Preview of the front of card 3

Card 4

Front

What are the 3 constraints for seeking international markets?

Back

Preview of the front of card 4

Card 5

Front

Name 2 types of trade barrier

Back

Preview of the front of card 5

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