chapter 3
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Raka Rahman 125020300111012 Chapter 3 International trade is trade between the two countries or more residents . Includes the exchange of goods , services , aseets , and money between one person or other organization . The largest component of international trade in the world in the field of travel and tourism amounted to $ 1.5 trilion per year held by Europeans . State -based classical trade theory Mercantilism The wealth of a country is measured by the ownership of gold and silver a goal should be to increase state ownership of gold and silver with promote export discouraging importsFor example, the American textile manufacturers, steel company, sugar farmers, peanut farmers Absolute Advantage A country is said to have an absolute advantage from another country , because the country is able to produce goods or services that can not be produced by other countries. Comparative Advantage A country is said to have a comparative advantage if the country they will be producing the goods or services at a lower cost than other countries. factors that influence it is 1 . Differences natural resources 2 . The difference in efficiency 3 . Differences in the level of technology used 4 . differences in taste 5 . Differences social , cultural , political , and defense and security . Comparative Advantage with Money Relative Factor Endowments Factor endowment , ie the ownership of the factors of production within a country . Benefits and Impact of International Trade The benefits of international trade : 1 . Improving the quality of consumption
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Transcript of chapter 3
Raka Rahman125020300111012
Chapter 3
International trade is trade between the two countries or more residents . Includes the exchange of goods , services , aseets , and money between one person or other organization . The largest component of international trade in the world in the field of travel and tourism amounted to $ 1.5 trilion per year held by Europeans .State -based classical trade theory
MercantilismThe wealth of a country is measured by the ownership of gold and silver a goal should be to increase state ownership of gold and silver with promote export discouraging importsFor example, the American textile manufacturers, steel company, sugar farmers, peanut farmers
Absolute Advantage A country is said to have an absolute advantage from another country , because the country is able to produce goods or services that can not be produced by other countries.
Comparative Advantage A country is said to have a comparative advantage if the country they will be producing the goods or services at a lower cost than other countries. factors that influence it is1 . Differences natural resources2 . The difference in efficiency3 . Differences in the level of technology used4 . differences in taste5 . Differences social , cultural , political , and defense and security .Comparative Advantage with MoneyRelative Factor EndowmentsFactor endowment , ie the ownership of the factors of production within a country .Benefits and Impact of International Trade
The benefits of international trade :1 . Improving the quality of consumption2 . Mendatangakan foreign exchange for the country3 . Work opportunities4 . Stabilizing prices5 . technology transferThe impact of international trade in Indonesia :Positive impact1 . A wide variety of goods and services needs are met2 . Prices of goods getting cheaper because of the efficiency and specialization3 . Increased foreign exchange4 . Open jobs5 . The existence of friendship and cooperation between countries6 . Encourage economic activityNegative impact1 . Domestic product decreased due to less favored communities .2 . Dependence on developed countries .International Payment
In international trade payments made using foreign currency or foreign exchange.Foreign exchange is all stuff that can be used as a means of international payment and accepted internationally .Foreign currency is a foreign currency that is used as a means of foreign payment .Foreign exchange rate is the ratio of the value of foreign currency to domestic currency .Various foreign exchange rates :1 . Buying rate , the rate imposed by the bank if the bank buys foreign currency .2 . Selling rate , the rate imposed by the bank if the bank sells foreign currency .3 . Middle rate , ie the average exchange rate between the buying and selling rates .Means of payment in international trade can be: gold and silver , foreign currency , and foreign money orders .
Barriers to International TradeInternational trade can proceed smoothly if the countries involved in the trade can freely export or import of goods in accordance with the wishes . Barriers resulting in import-export activities disrupted .International trade barriers , among others :1 . quota2 . import ban3 . fare4 . subsidy5 . economic embargo
