INTERNATINAL ECONOMICS
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- INTERNATIONALECONOMICS
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- International economics could be said to be a deepening of Microeconomics. This is what studies the commercial behavior between two or more countries, relating the transactions of resources and means between them.Therefore, when we talk about international economy we link it with factors of international trade.
- International trade is a very important factor in the economy since it is conceived as the activity of a country when acquiring goods and services outside its sovereignty (in other countries).
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- Yes, in fact it has a great relationship with international finance since it focuses on the monetary analysis of international relations as well as it is related to the macro-micro economy and globalization.
- Of course, the greater diversity of production has a greater expansion of markets and brings with it great economic stability, which causes the different decreasing costs.
- Do you know that international trade has many advantagesNo?
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- Within international trade there is the law of comparative advantage and it establishes that, if each country specializes in the production of those goods and services in which it has a comparative advantage and imports those other goods in which it has a disadvantage, there will be a improvement in economic well-being.
- Yes, this is unlike absolute advantage since within this it produces one good with fewer resources than another.
- Do you know the opportunity cost?
- Of course, it is where we must make a sacrifice or choice that can add more to us compared to another.
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- Do you know why globalization is related to the international economy?
- In fact, the WTO was created to promote and apply global free trade in international trade.
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- What does the international free trade area stage refer to
- In fact, this is an area made up of the territory of different countries where the goods produced by each of them can circulate freely.
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- It is related since it is an economic and dynamic process in society, of the economy, finance, commerce, politics, etc. But globalization is the increase in the internationalization of productive processes and capital, on a global level.
- Free trade is the sale of products between countries, free of tariffs and any trade barrier. This concept is applicable to both international trade and foreign trade..
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