Tag: International Trade Economy
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Oligopoly
Summary of Oligopoly Literally, a market in which there are only a few sellers of a given product or service. Under oligopolistic conditions, no one seller can establish market prices, except in concert with the other suppliers; if such concerted action develops, the suppliers are operating […]
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Import Substitution
Summary of Import Substitution The act of eliminating imports of a given product by commencing production locally, often accompanied by controls such as increased duties, quotas, or outright bans to discourage or prevent continued foreign imports. This approach is fairly common on the part […]
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Import Substitution
Summary of Import Substitution The act of eliminating imports of a given product by commencing production locally, often accompanied by controls such as increased duties, quotas, or outright bans to discourage or prevent continued foreign imports. This approach is fairly common on the part […]
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Devaluation
Summary of Devaluation The official reduction of the value of a nation's money in relation to a standard (usually gold), special drawing rights, or the U.S. dollar. Inasmuch as all currencies are ultimately valued in terms of some standard, devaluation results in the conscious increase […]
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Competition Policy
Competition Policy and International Trade Economy In relation to international trade economy, Christopher Mark (1993) provided the following definition of Competition Policy: A broad category encompassing antitrust and other policies to remedy the imperfectly competitive nature of key […]
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Arbitrage
Summary of Arbitrage The practice whereby foreign exchange or commodities are purchased in one market at lower cost and rapidly traded off in another, higher cost market. For example, if the pound sterling sells for $1.50 in Paris, but only $1.45 in New York, an arbitrageur could buy […]
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Barter
Summary of Barter A direct exchange of products without cash. In some cases, a third party is brought into the transaction to dispose of some or all of the goods in a third country; this practice is known as switch trading. See Countertrade.(Main Author: William J. Miller) Barter […]
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Barter
Summary of Barter A direct exchange of products without cash. In some cases, a third party is brought into the transaction to dispose of some or all of the goods in a third country; this practice is known as switch trading. See Countertrade.(Main Author: William J. Miller) Barter […]
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Innovation
Innovation and the Laws of International Trade The relationship between antitrust law and intellectual property Intellectual Property and Competition Law Three general principles When antitrust concerns arise The three markets The horizontal/vertical distinction Rule of […]
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Turnover
Summary of Turnover The rate at which sales occur, relative to the capital employed. For example, if sales are one million dollars, and capital employed is one hundred thousand, the capital turnover is ten.(Main Author: William J. Miller) Turnover and International Trade Economy […]
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Liberalism
The Liberals While the adjetive of the term means "Marked by generosity", a used definition of liberal regards the person who is open-minded or not strict in the observance of orthodox, traditional, or established forms or ways. Earl Killian thinks that a liberal is the person […]
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Liberalism
The Liberals While the adjetive of the term means "Marked by generosity", a used definition of liberal regards the person who is open-minded or not strict in the observance of orthodox, traditional, or established forms or ways. Earl Killian thinks that a liberal is the person […]
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ECU
Ecu Summary of Ecu The European Monetary System is considered here.(Main Author: William J. Miller) ECU and International Trade Economy ECU (European Currency Unit) and Europe There is an entry on ecu (european currency unit) in the European legal encyclopedia. ECU and the […]