What are FTA’s? Free Trade Associations

Slides:



Advertisements
Similar presentations
Purchasing Power Parity (PPP) The PPP Hypothesis states that the exchange rate between two countries’ currencies equals the ratio of the currencies’ purchasing.
Advertisements

Unit International Payment Flows Understand the components of International Currency Exchange.
3.1 Understanding International Trade. The UK trades a high value of goods and services with other countries each year. Exports – goods and services the.
Think of something you would like to buy. Do you know who makes it? Do you know its price? Buying, selling, and deciding on prices are important ideas.
The way a group of people produce and distribute goods and services.
US Economy Free Enterprise System. What is an economy? An economy is the resources of a country, state, region, or community and how the resources are.
5.1 – An Economic Application: Consumer Surplus and Producer Surplus.
Monopoly. Monopoly Monopoly is when the market is dominated by a single seller Monopoly is when the market is dominated by a single seller –They can take.
Protectionism vs Free Trade.
I. The Circular Flow of Economic Activity A healthy market depends on a flow of resources, goods, and services.
Market vs. Command Freedom of choice We decided what to produce Prices determined by supply and demand Competition Quality/variety of products Private.
Globalization. What is globalization? Globalization- national economies, politics, cultures, and societies become integrated with other nations around.
The United States functions within a global marketplace, where goods and services are traded and sold. Here are some characteristics of the global economy:
Free Enterprise 3 rd grade. Free enterprise The freedom to start a business and sell, for profit, any product or service allowed by law.
Business & Management GLOBALISATION “The Growing Integration of the worlds economies."
Economics Gorfien © Economics The study of how people make things to meet their needs and wants. The study of how people make things to meet their.
Bell Ringer Activity Which economic system does the United States have? (Command, Market, or Mixed) Why do you think that?
GLOBALIZATION UNIT LESSON 1 GLOBAL ECONOMICS. OBJECTIVES Review economic systems. Introduce key economic terms related to globalization.
GLOBALIZATION UNIT LESSON 1 GLOBAL ECONOMICS. OBJECTIVES Review economic systems. Introduce key economic terms related to globalization.
ECONOMIC SYSTEM COMPONENTS Private Ownership l Control of productive resources land labor capital that are used to produce goods and services.
3 rd Grade Economics Picture Vocabulary. What do we call the study of how people produce, sell, and buy products and services? _______________________________.
Government Intervention in the Markets Economic Institutions: Changes Needed to Ensure Economic Prosperity.
Read to Learn Describe the three basic economic questions each country must answer to make decisions about using their resources. Contrast the way a.
The Basics of Economics. Economic Activity Our economy, much like others around the world operate on a circular flow of economic activity. –Goods and.
IGCSE Business Studies Globalisation. LEARNING OUTCOMES: –To have an appreciation of how international trade influences an economy, its sectors, competition,
Economies. Economy is... The production, distribution, trade and consumption of GOODS and SERVICES.
Trade. Trade and Geography Trade Geography can give a country or region advantages in production and in trade – The more resource a country has the more.
© SOUTH-WESTERN THOMSONINTERNATIONAL BUSINESS LESSON2-1 GOALS  Describe the basic economic problem.  List the steps of the decision-making process. ECONOMICS.
Where one grows their own food and makes their own goods. Trade amongst others to obtain what they need. Mostly in remote areas.
Budgets and Businesses Workshop. Budget: is a plan that shows income, spending and saving. Income: Spending: Saving:
A.S 3.2 International Trade. Involves buying and selling goods and services between nations Most trade occurs between firms operating in different countries.
Economics. Economic Basics Vocabulary: Economics: Study of how people meet their wants and needs Scarcity: Having a limited quantity of resources to meet.
Example A vegetable fiber is traded in a competitive world market, and the world price is $9 per pound. Unlimited quantities are available for import into.
GLOBALIZATION UNIT LESSON 1 GLOBAL ECONOMICS. OBJECTIVES Review economic systems. Introduce key economic terms and theories related to globalization.
Economics -Economics -the system that society uses to produce and distribute goods and services -Why study economics??? -Why does the government pay so.
Overview of the U.S. Economy
Chapter 21 Section 4 (Pgs ) Living in a World Economy
REVIEW 8.1 EUROPEAN UNION.
Economics -Economics -the system that society uses to produce and distribute goods and services -Why study economics??? -Why does the government pay so.
Types of Economies.
Essential Question: Changes in Supply SECTION 2
ECONOMIES.
Adam Smith: The Wealth of Nations.
Read to Learn Describe the three basic economic questions each country must answer to make decisions about using their resources. Contrast the way a.
Economic Systems.
Economic Systems Economics (Economy)- is the study of how things are made and brought to them; (i.e. buying, making and selling of goods and services)
Trade Overview.
THE GOVERNMENT AND THE ECONOMY
Egg Labels & Marketing.
EOC Review Units 8-9.
Egg Labels & Marketing.
Vocabulary Review Week 3.
Supply and Demand 1-4.
In a capitalist economy resources are allocated based on the laws of supply and demand which act as an invisible hand guiding resource allocation. Supply.
Click here to advance to the next slide.
Click here to advance to the next slide.
Price Effects of Supply and Demand
The Free Enterprise System

Living in a World Economy
Learning Economics.
Overview of the U.S. Economy
Obj. 7.7 Supply, Demand & Price
Why does a country have to develop an economic system?
What to Buy? Choices/ Choices Economics Potluck 10 pt 10 pt 10 pt
Chapter 2 Economic Resources and Systems
Warm Up – April 30 Answer the following questions on a post-it:
Command, Traditional, Market
Marketing & Economic Principles
Demand Prices within our economy are set by supply and demand.
Presentation transcript:

What are FTA’s? Free Trade Associations

E D C A B A world with NO free trade associations Country A will only allow a specific amount of each product to be imported to its country A B

E D C A B A world with free trade associations The laws of Supply & Demand dictate what should be sold and at what price. A B Free markets promote efficiency

Globalisation 1 single world market Better services Lower Prices Increase in consumer choice Increased competition Too much human activity - pollution Actually damages some economies

Multinational Businesses

What is a multinational business Must sell goods in more than 1 country Must produce goods in more than 1 country Will therefore contribute in some way to more than 1 economy

Why become multinational? Should this cafeteria become multinational?

Feedback: Privacy Policy Feedback
Do Not Sell My Personal Information
About project: SlidePlayer Terms of Service

© 2024 SlidePlayer.com Inc. All rights reserved.