Research the essential ideas/assumptions of the classical and neo-classical economic schools pertaining to international trade.
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Research the essential ideas/assumptions of the classical and neo-classical economic schools pertaining to international trade.
Please provide thorough answer. Thanks! One of the assumptions of classical theory of international trade is constant returns to scale but most production activities face decreasing returns to scale. Explain the difference between these concepts using a production function.
Economist Herman Daly characterizes neo-classical economic theory as being analogous to a biologist trying to understand the functioning of an animal by considering only its circulatory system and ignoring its digestive system which connects the animal “firmly to the environment at both ends!” How is this analogous to neo-classical economic theory? What kind of environmental problems does this kind of neo-classical economic thinking lead to? Explain and provide examples.please type answer
“The study of international trade and international migration occupies a relatively small part of standard economic analysis. Conventionally, international trade theory tends to ignore international migration, which essentially changes the distribution of national communities. Similarly, the literature on international migration abstracts from the effects of labor migration on international flows of goods, services and capital.” Using elements from international trade and international migration theory, explain how an increase in trade between a developed and a developing economy may affect migration...
Determine the international economic/trade exposure of the Netherlands. To what extent is the Dutch economy exposed to international economic activities? Reasons for that?
International business Q-1. Define trade creation and trade diversion with respect to regional economic integration.?
Research and discuss the methods that Fiat FCA uses predominantly in its international trade.
Regional Economic Integration Agreements Consistent with the predictions of international trade theory and particularly with the theory of comparative advantage (see Chapter 6), agreements designed to promote free trade within regions are believed to produce gains from trade for all member countries. These agreements define regional economic integration. Regional economic integration (REI) refers to agreements among countries in a geographic region to reduce, and ultimately remove, tariff and nontariff barriers to the free flow of goods, services, and factors of production among...
How do the political, economic, and legal environments of a country affect international trade? And what factors make a country favorable for doing business?
Economic theory suggests that international trade is primarily due to absolute advantage. strategic advantage. comparative advantage. technical advantage.
As part of Canadian government efforts to boost up economic trade with international community, on February 2016 Canada became a member of a trade agreement called “Trans Pacific Partnership” or TPP. Meanwhile, the agreement has gone through a set of changes, member withdrawals, new additions, etc. What is the urbanization rate of TPP members? You may write down an average urban rate.