We use cookies to give you the best experience possible. By continuing we’ll assume you’re on board with our cookie policy

Xeco 212 International Trade Simulation Paper

Words: 323, Paragraphs: 4, Pages: 2

Paper type: Essay , Subject: Trade

International trading is an important aspect to our economy as well as other countries well being. This is important because trading allows countries the opportunity to receive goods and services that are not available in their own countries. For example, if one country specializes in agriculture than it will benefit from trading with a country that specializes in services. In this simulation, I was advising the President of Rodamia for recommendations for international trade. One advantage of international trading that was encountered in the simulation was the variety of goods that could be gained for each country.

Rodamia was gaining products that they wouldn’t be able to produce themselves. Rodamia’s economy also profited because by they were offering new goods to the consumers, having them spend more. One limitation of international trading that was encountered in the simulation was the quotas. Quotas put restrictions on how much can be imported. By putting a limit on the amount that can be imported, this raises the price and only benefits one country. Absolute advantage is the ability of a country that can produce a good at a lower cost per unit than any other country producing that good. Rodamia produces corn at a lower cost per unit than Suntize.

Don't use plagiarized sources. Get Your Custom Essay on Xeco 212 International Trade Simulation
Just from $13,9/Page

Get Essay

Xeco 212 International Trade Simulation Xeco 212 International Trade Simulation Xeco 212 International Trade Simulation

When a country can produce a good at a lower cost than a competitor is comparative advantage. Foreign exchange rates are influences by many different factors. First and foremost the most influential factor would be the supply and demand of each country. If a country’s national currency is different from the country that is producing the good than that country has to adjust. Another factor that influences foreign exchange rates is the state of a country’s economy. If a country’s economic state is not in good standing or is suffering than other countries are less likely to invest in their goods.

About the author

This sample paper is crafted by Elizabeth. She studies Communications at Northwestern University. All the content of this paper is just her opinion on Xeco 212 International Trade Simulation and can be used only as a possible source of ideas and arguments.

Check out other papers written by Elizabeth:

How to cite this page

Choose cite format:

Xeco 212 International Trade Simulation. (2019, Oct 09). Retrieved from https://paperap.com/paper-on-essay-xeco-212-international-trade-simulation/

Is Your Deadline Too Short?
Let Professionals Help You

Get Help

Our customer support team is available Monday-Friday 9am-5pm EST. If you contact us after hours, we'll get back to you in 24 hours or less.

By clicking "Send Message", you agree to our terms of service and privacy policy. We'll occasionally send you account related and promo emails.
No results found for “ image
Try Our service

Hi, I am Colleen from Paperap.

Hi there, would you like to get such a paper? How about receiving a customized one? Click to learn more https://goo.gl/CYf83b