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13 Cards in this Set
- Front
- Back
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advanced nations
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US, western europe, australia, etc
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buffer stock
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supplies of a commodity financed and held by a producers' association...used to limit commodity price swings
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cartel
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a group of firms or nations that attempts to support prices higher than would exist under more competitve conditions
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developing nations
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most nations in africa, asia, latin america etc
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export controls
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enacted to stabilize export revenues, these measures offset a decrease in the market demand for the primary commodity by assigning cutbacks in the market supply
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export-led growth
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promoting econ growth through the export of manufactured goods-trade controls are either non existant or low
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flying-geese pattern of economic growth
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where countries gradually move up in technological development by following a pattern of countries ahead of them in the development process
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generalized system of preferences (GSP)
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a system where industrialized nations attempt to promote economic development in developing countried through lower tariffd and increased trade rather than foreign aid
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import substitution
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a policy that involves extensive use of trade barriers to protect domestic industries from import competition
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international commodity agreements
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agreements among leading producing and consuming countries of commodities about matters like stabalizing prices, promotind econ devel etc
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production controls
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artifical curtailments in the production of a commodity
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multilateral contract
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contracts which stipulate a minimum price at which importers will purchase guarenteed quantities from producing nations and a max price that they will sell them at
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primary products
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agricultural goods, raw goods and fuels
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