Class+Notes+&+PP

What is the meaning of international trade? To what extent do we import or export goods and services? What are the gains from trade?
 * International Trade**

Why do all countries not produce top selling goods? Why does a country have a comparative advantage? How does specialization play a role? What are the assumptions of theory of comparative advantage?

Is trade good for all countries? Why do countries not allow free trade? What are the arguments against protectionism?

What is the impact of tariff on spare parts of sewing machines? How would this affect garment exporters?

How does subsidy change the revenue for domestic producers? How does subsidy change the revenue for foreign producers? How does subsidy change the revenue for government?