Globalization and International Trade

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Globalization and International Trade by Mind Map: Globalization and International Trade

1. Multiple Factors of Production

1.1. Products

1.2. consumption

1.3. goods

1.4. services

1.5. Productivity

1.6. industry

2. The Global Economy

2.1. flows of goods, services, money, and people across national borders.

2.2. Driven by technology and politics.

2.3. Grow your visibility

2.4. Sell third party products

3. Globalization Through the Ages

3.1. The World Trade Organization The WTO

3.2. international trade expansion

3.3. economy on scales

3.4. History

3.4.1. It took place in the nineteenth and early twentieth centuries.

3.4.1.1. The new technologies

3.4.1.1.1. The railways

4. Protectionism

4.1. measures to restrict international trade

4.2. international trade restriction

4.3. taxes on consumption

4.4. reduce imported prices

5. New Trade Theory and Economies of Scale

5.1. Internal Economies of Scale

5.2. monopolistic competition

5.3. Interest

5.4. Expertise

5.4.1. price-takers

5.4.1.1. price-setters

5.5. External Economies of Scale

6. The Ricardian Model of Comparative Advantage

6.1. The classical theory of comparative advantage.

6.2. Free trade can benefit all involved

6.3. production possibility borders.

6.4. different nations produce different goods

6.5. productive processes in different countries.