World Economy and Trade – 3 Questions

World Economy and Trade
Answer all parts of the question.
1. What are the costs associated with international trade and how do these costs arise?
2. Use economic theory to explain empirical evidence that few firms are involved in international trade and that trade is highly concentrated in a limited number of firms.
3. “Most firms tend to trade with only one country and trade only one product.” Discuss, using economic theory to support your arguments.
Guidelines for this question:
To answer this question use economic concepts and diagrammatic analysis (as appropriate). Use examples, cases and other evidence to illustrate the arguments you make.
Guidelines for Question
• Refer to the reading list posted on Canvas to inform your discussion or, better, conduct your own research!
• You need to demonstrate a clear understanding of the relevant theories – this is very important
• The use of examples/cases will help you establish a link between theoretical framework and observed evidence and illustrate the arguments and claims you make
• “Nations do not trade; it is firms that trade. The simple truth makes it clear that understanding the firm-level facts is essential to good policy making.” Mayer and Ottaviano (2007)
• Part 1. You need to think about costs specifically related to international trade not production more generally
• Transport costs and costs that arise because companies need to adapt the product to certain foreign markets (e.g. for packaging or marketing)
• What other barriers to trade exist?
• For parts 2 and 3. Be sure to provide an overview of relevant theories i.e. theories that explain international trade between firms across countries and trade patterns at the firm level
• The key is to focus on the relatively small number of firms involved in trade i.e. explaining the concentration of trade in a small number of firms
• To what extent does the % of exporters vary by home market size?
• Are firms within large free trade areas (e.g. the EU) more likely to trade internationally?
• Use diagrammes, data and real examples (make the most of the extra material available to you on Canvas but also elsewhere)
***********YOU MUST CITE FROM THIS BOOK: Sloman, J., Garratt, D. and Guest, J. (2018). Economics. 10th edition. Pearson. ******************************
***************Please check the file [Unit 7] for module content********************
Assignment Guidance
• Your report should be no more than 2,000 words in total and must be your own original work.
• References are not in included in the word count.
• Diagrams and small tables should be integrated into the report; longer ones should be included in an appendix.
• Words in diagrams, tables and appendices are not to be included in the word count. However material in appendices will not be given equal importance to materials in the main report.
• The use of economic concepts and arguments, diagrams, data and graphs is highly recommended


Explain how you explain Thomas Jefferson’s views in his Notes on the State of Virginia, and how did anti-racists like Benjamin Banneker respond to Jefferson?

Describe your understanding of how business policy and strategy choices should be made.

Explain which are the most appropriate teaching strategies for your course and audience, and why they are the most appropriate.

Identify the measures for evaluating the outcomes and observing changes including evidence from your literature search about the nature of the measures; the validity and reliability of the measures; how baseline measures will be obtained, how often follow-up measures will be administered and what results you anticipate finding.

What are the effects of consumerism on the environment?

Write a paper based off poverty’s and it’s effect on literacy on immigrant families in Miami, Florida.

Write a research paper on comparing and contrasting aerobic cellular and photosynthesis.

Describe key facts along with any policies, procedures, guidelines, best practices, applicable laws and regulations, and handbooks/internal publications.

Is there a specific company that grew exponentially during the pandemic?

Discuss the relationship between a CIRT plan and risk management.

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more