How external trade promote economic development and growth, Business Economics

Assignment Help:

How can external trade promote economic development and growth?

International trade permits increased specialisation than higher output permits economies of scale.

• A big market permits domestic producers greater scope for economies of scale. Not with trade the domestic market only permits Q1 output. Access to out of the country markets implies Q2 output at lowest unit cost.

• International competition encourages competition. Domestic organisations strive to turn into world class, adapting latest technology, product and procedure innovations which reduce unit costs.

1100_Economic development and growth.png

Economic development and growth


Related Discussions:- How external trade promote economic development and growth

What happens during a business cycle of economy done, What happens during a...

What happens during a business cycle of economy, and what can be done about it? Business cycle of economy: a. The consequences of recessions and expansions onto unemploymen

Role of trade union in the wage bargaining process, Question 1: a. Desc...

Question 1: a. Describe the role of trade union in the wage bargaining process. b. Formulate a model that tests for the wage gap between union and nonunion earnings in a

Managerial economics, #question the importance of managerial economics..

#question the importance of managerial economics..

Acknowledge a union through a card check, 1) True or False: Elections under...

1) True or False: Elections under the NLRA were intended to replace the need for striking in order to have a union recognized. 2) True or False: Companies can voluntarily acknow

Actively-managed mutual funds, A sample of 58 mutual funds was taken and th...

A sample of 58 mutual funds was taken and the mean return in the sample was 14% with a standard deviation of 9.3%. The return on a particular index of stocks (against which the mut

What is meant by the term exception reporting, What is meant by the term ex...

What is meant by the term exception reporting? What are the advantages and the drawbacks of this type of reporting? Exception reports concentrate onto what has not gone as per

Implementation issues - infrastructure, IMPLEMENTATION ISSUES: Infrast...

IMPLEMENTATION ISSUES: Infrastructure sector, especially economic infrastructure, projects are facing a variety of problems, which are to be addressed in order to realise the

Saudi Economic Forecast 2018 to 2020, I want a presentation on Saudi Arabia...

I want a presentation on Saudi Arabia''s economic forecast for 2018 to 2020 and role and future of travel industry in it.

Calculate the equilibrium price and output for each firm, Problem 1: (i...

Problem 1: (i) Assuming a Cournot duopoly where the market demand is estimated as: P = 100 - Q The marginal cost is estimated to be constant at Rs. 10 for the two fir

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd