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Syllabus 4.3
arguments for + against protection |
VID 1: Problems in International Trade
VID 2: Who Supports Free Trade
VID 3: Arguments against Free Trade
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Dictionary
3.1 - International Trade 1. administrative barriers 2. balance of payments 3. division of labour 4. dumping 5. embargo 6. environmental standards 7. exchange controls 8. free trade 9. health and safety standards 10. Import licensing 11. ‘infant industry’ 12. quota 13. specialization 14. tariff 15. VER 16. WTO HL Only 1. Comparative advantage 2. Absolute advantage 3. David Ricardo 4. Opportunity cost |
