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Eco212 Week 5 International Trade Simulation and Report

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International Trade Simulation and Report
LeoNita Bigos-Erickson
ECO 212
May 21st, 2660
Prof. Liliana Fargo PhD.

International Trade Simulation and Report
      On global interaction there is an economic characteristic where a nations exchanges goods and services to others. Globally this is known as importing and exporting production. Those nations with an open economy in the world is involved such processes with other nations, but they need to make sure they have positive interactions with the nations trading with and some of the traits would be to trust between both nations and the secured data that is necessary to be able to lock deals with a trade commerce partner. This report explains explicitly how international trade is beneficial although restrictive, pinpointing variances among the economic stipulations compared to the absolute advantages, and the factor affecting a nation’s foreign exchange market (Investor Words,2009).
      Limitations or Advantages
      In the example, one thing acquired a nation involved in the trade with other nation and/or countries once they sign a Free Trade Agreement. This agreement is signed, allowing each nation to buy bulk product thus lowering their price with a greater volume or taxes omitted on these goods and services omitting additional expenditures. A nation’s partaking in the Free Trade Agreement is appealing to various nations since it gives them the prospect to have more trading cohorts and then other nations want participation also to lead to an expansion of the market. A quality good is disseminated to a massive amount of clients, with opportunities attracting new investors, and more prominently employment in various industries so there are available for all citizens of the participating nations ensuing a reduction in their unemployment rate.
      Other nations decide not to participate in the Free Trade Agreement with other nations who have pre-recognized trade contracts sets in place with other...

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