UNIT 3: INTERNATIONAL TRADE POLICY

________ is the balance between exports and imports in an economy.

_________ showing trade in goods and services, income and unrequited transfers (e.g. foreign and payment, workers remittances, etc.) over a specific period.

_________ is a non-binding intergovernmental instrument that seeks to regulate certain types of behaviour of governments or private corporations.

___________ records currency inflows and outflows due to international dealings in financial assets, such as investments and loans.

___________ is a statistical summary of a country’s total trade, other economic

transactions and financial flows at a given time.

_______ laws are designed to protect domestic producers and sellers of goods,

whereas _______ are meant to protect consumers and importers.

The theory of ________ states that the success of a firm or an industry is based on cost advantages in the production of a relatively standardized product or product based advantages related to the development of differentiated products.

_______ means approaches of governments to the promotion and protection of

competition. _______ is often seen as promoting especially the interests of the

consumer.

_______ describes the increasing integration of national economic systems through growth in international trade, investment and capital flows

________ covers governmental acts, policies and practices which influence trade in goods and services.