Search results
Results from the WOW.Com Content Network
Terms of trade (TOT) is a measure of how much imports an economy can get for a unit of exported goods. For example, if an economy is only exporting apples and only importing oranges, then the terms of trade are simply the price of apples divided by the price of oranges — in other words, how many oranges can be obtained for a unit of apples.
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
A country has demand for an import when the price of the good (or service) on the world market is less than the price on the domestic market. [4] The balance of trade, usually denoted , is the difference between the value of all the goods (and services) a country exports and the value of the goods the country imports.
Re-importation occurs often when excise taxes are high on a commodity, such as alcohol. Buyers who desire certain domestic products, but do not wish to pay the high excise tax, can buy it from another country where the excise tax is lower. This occurs, for example, when re-importing Koskenkorva Viina, a Finnish product, from Estonia to Finland.
Products may sometimes be imported into a free economic zone (or 'free port'), processed there, then re-exported without being subject to tariffs or duties. According to the 1999 Revised Kyoto Convention, a " 'free zone' means a part of the territory of a contracting party where any goods introduced are generally regarded, insofar as import ...
Trade in goods and services can serve as a substitute for trade in factors of production. Instead of importing a factor of production, a country can import goods that make intensive use of that factor of production and thus embody it. An example of this is the import of labor-intensive goods by the United States from China. Instead of importing ...
Re-exportation, also called entrepot trade, is a form of international trade in which a country exports goods which it previously imported without altering them. One such example could be when one member of a free trade agreement charges lower tariffs to external nations to win trade, and then re-exports the same product to another partner in ...
EIDL – Economic Injury ... Assurance of Supply, Quality, Service, Cost, Innovation (see RAQSCI) RBI – Reserve Bank of India; RBA – Reserve Bank of Australia; RE ...