International Trade Theories and Terms

The purchase, sell or exchange of goods and services across the national borders is called (a)  

Sending goods and services to another country for sale or trade is called (a)  

Bringing goods and services from another country for sale or trade is called (a)  

A trade theory holds that a government can improve the economic well-being of the country by encouraging exports and stifling imports to accumulate wealth in form of precious metals. This theory is called (a)   .

A theory holds that a government can improve the economic well-being of the country by encouraging exports and stifling imports. This is called (a)  

A trade theory holds that nations can increase their economic well-being by SPECIALIZING in goods that they can produce MORE EFFICIENTLY than anyone else. This is called the theory of (a)   ?

(a)   is a theory that holds that nations can increase their economic well-being by producing goods that they have the greatest relative advantage.

A trade theory holds that nations will produce and export products that they have in abundance and import products that require a large amount of factors that they lack. This is called (a)  

(a)   is a trade theory that extends the concept of comparative advantage by bringing into consideration the endowment (=proportion) and cost of factors of production and helps to explain why nations with relatively large labour forces will concentrate on producing labour-intensive goods, while countries with relatively more capital than labour will focus on producing capital-intensive goods.

A finding shows that the US exports relatively more labour-intensive goods and imports more capital-intensive goods. This is known as the (a)