Int Economics Ch2

Front 1

arbitrage

Back 1

buying something in one market and reselling the same thing in another market to profit from a price difference

Front 2

effects of world trade to importing country (for both consumers and producers)

Back 2

consumers - prices are lowered and demand incr. They benefit as consumer surplus increases
producers - prices are down so they are hurt, and producer suprlus is decreased

Front 3

Net national gain - one dollar, one vote metric

Back 3

the analyst will value any dollar of gain or loss equally, reardless of who experiences. (this is lobbied against and doesn't take into account politics and other factors)

Front 4

effects of world trade to importing country (for both consumers and producers)

Back 4

consumers - prices are raised to new and many consumers can no longer afford to purchase
producers - with increase in price, producers are benefited and are bale to earn more money

Front 5

Which country gains more?

Back 5

Nations gain (X%)/Rest of worlds gain (Y%)