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13 Cards in this Set

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