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CONCEPTS IN TRADE AND SUSTAINABLE DEVELOPMENT.

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CONCEPTS IN TRADE AND SUSTAINABLE DEVELOPMENT.

Post by sol_drethedon on Sat Apr 20, 2013 12:38 am

CONCEPTS IN TRADE AND SUSTAINABLE DEVELOPMENT.

1. Absorptive capacity;
The ability of a country to absorb foreign private or public financial assistance( to use the funds in a productive manner)

2. Agglomeration economies:
Cost advantages to producers and consumers from location in cities and towns, which take the forms of urbanization economies and localization economies.

3. Big push:
A concerted economy, wide, and probably public policy led; effort to initiate or accelerate economic development across a broad spectrum of new industries and skills.

4.Capital flight:
Transfer of funds to a foreign country by a local citizen or business

5. An organization of producers agreeing to limit the output of their products in an effort to raise prices and profits.

6. A comparative advantage:
A country has a comparative advantage over another if in producing a commodity, it can do so a t a relatively low opportunity cost in terms
of fore-gone alternative commodities.

7. Trade diversion:
Shift, upon formation of a customs union, of locus of production of formerly imported goods from lower cost non-member states to a higher cost member nation.

8. Currency substitution:

The use of a foreign currency e.g the US dollar as a medium of exchange in place or along with the local currency.

9.Investment in human capital:
Actions taken to increase the productivity of workers. These actions can include improving skills and abilities, education, health, or mobility of workers, etc . . .

10. Market economy:
An economic system where most goods and services are exchanged through transactions by private households and businesses. Prices are largely determined by buyers.





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