Module 12 - Understanding Economic Activity in an International Context
Activity 1 : : Activity 2 : : Activity 3 : : Activity 4 : : Activity 5
Activity 2: Topics and Concepts
Understanding International Trade
- predatory pricing
- tariff
- quota
- export subsidy
- dumping
- protectionism
- free trade
- comparative advantage
- imports
- exports
- infant industry argument
- trade adjustment assistance
Understanding Actions and Organizations Affecting International Trade
- closed economy
- world price
- excess demand
- excess supply
- exports
- imports
- quota
- tariff
- capital account
- appreciation
- depreciation
- trade balance
- North American Free Trade Agreement (NAFTA)
- open economy
- Smoot Hawley Tariff
- fixed versus floating
- exchange rate
- General Agreement on Trade and Tariffs (GATT)
- World Trade Organization (WTO)
- Bretton Woods/Gold Standard
- comparative advantage
- economic integration
Understanding the Effects of Trade on the Domestic Economy
- comparative advantage
- exports
- imports
- leakage
- globalization
- specialization
- net exports
- open economy
- closed economy
- production possibilities frontier (PPF)
- marginal propensity to import
- marginal propensity to consume
- multiplier effect
- current account
- balance of trade
Negative Practices in the Area of International Trade
- trade war
- dumping
- subsidies
- predatory pricing
- General Agreement on Trade and Tariffs (GATT)
- World Trade Organization (WTO)
Create a visual schematic of these terms using either concept maps, notes, or flash cards. Enter your definitions of key terms, definitions, concepts and vocabulary into your notebook or computer file.
Activity 1 : : Activity 2 : : Activity 3 : : Activity 4 : : Activity 5
Citation: rbennett1. (2007, November 26). Module 12 - Understanding Economic Activity in an International Context. Retrieved November 21, 2009, from Western Governors University Web site: http://ocw.wgu.edu/liberal-arts/iea4-and-iec4-econ-and-world-history-after-dec/module-12-understanding-economic-activity-in-an-2.
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by the Contributing Authors.
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