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trade

Published on Nov 27, 2015

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PRESENTATION OUTLINE

1.

trade

Mr. Melkonian
Photo by bindermichi
2.

your things

3.

trade is very important

for our current lifestyles
4.

foods

  • banana - Chile
  • pineapple - Hawaii
  • oranges - Florida
  • nuts - various (fstkhji)
5.

we rely on imports... but exports equally important

accounts for ~40% of our gdp - figure will increase
Photo by play4smee
6.

why buy from other nations when we can make it ourselves?

7.

no one can be totally self-sufficient

too expensive 
8.

productivity/standard of living

way higher if you specialize what you're best in and buy the rest
Photo by samsungtomorrow
9.

greater economic efficiency

our main goal
Photo by Green Energy Futures
10.

globalization

Photo by Yoav Lerman
11.

globalization

  • increased international trade/investment flows
  • large scale transnationals
  • international markets for their goods/services
Photo by ~ezs
12.

trade benefits both parties

specialization most important mutual benefit
Photo by Enthuan
13.

absolute advantage

individual/nation produces something more efficiently than another (use less resources)
Photo by ** RCB **
14.

saskatchewan vs bc

sask makes wheat better, bc farms lumber better
Photo by cliff1066™
15.

newfoundland vs ontario

newfoundland farms fish more effectively, ontario makes cars more effectively
Photo by Steve Snodgrass
16.

opportunity cost

if i really wanted to... i could figure out that oil change
17.

countries can produce most things

bottom line-more units are produced if we specialize at what we're good at
Photo by "The Wanderer's Eye Photography"
18.

comparative advantage

what if one nation has absolute advantage over another... in the same item?
Photo by RDECOM
19.

david ricardo

even if one nation is better at everything-chances are they're better at some things than others
20.

differences in relative efficiencies or comparative advantage

makes trade more economically benficial for a country
Photo by winterofdiscontent
21.

i am the best in the world at...

predicting market fluctuations and skipping rope
Photo by coffeego
22.

terms of trade

establishing international price for one product in terms of another
Photo by stevendepolo
23.

trades have to at least cover opportunity cost

so that internatioal trade makes sense
Photo by NASA's Marshall Space Flight Center
24.

trade restrictions

even though we know trade is good - governments sometimes want to restrict it
Photo by Mollivan Jon
25.

we don't want a lot of foreign influence/control

26.

protect domestic employment

importing goods without increasing exports = exporting jobs
Photo by photologue_np
27.

retaliation

because screw you
28.

protection against dumping

sell products abroad cheaper than at home
Photo by Phil's 1stPix
29.

diversification

if you really rely on one or two products to export...
Photo by Canadian Light Source
30.

protect vital industries

weapons
Photo by Sprengben [why not get a friend]
31.

protection of developing industries

maybe we want to start making our own 3d printers
32.

IMPROVEMENT of terms of trade

saudi oil - how much are you worth?
33.

tarrifs / import duties

special tax which decreases imports
Photo by Tax Credits
34.

quota

limit total quantity of 'x' import alowed to enter the country
Photo by T.Phipps Photography

Peter Melkonian