International Trade

Introduction

This section will first show why nations export and import goods, and then examine barriers to trade and various steps that have been taken to lower barriers to trade.

While foreign trade isn't as emotionally loaded as say, taxes and government spending, like most topics in economics it stirs the blood of certain people—those whose livelihoods and lifestyles are most affected by exports and imports. These people have very real concerns, but those concerns are specific to their individual lives. Economists almost universally believe that foreign trade in a free global marketplace will create the greatest good for the greatest number of people.

Let's start with why they would believe this.

book cover

Excerpted from The Complete Idiot's Guide to Economics © 2003 by Tom Gorman. All rights reserved including the right of reproduction in whole or in part in any form. Used by arrangement with Alpha Books, a member of Penguin Group (USA) Inc.

To order this book direct from the publisher, visit the Penguin USA website or call 1-800-253-6476. You can also purchase this book at Amazon.com and Barnes & Noble.

stay connected

Sign up for our free email newsletters and receive the latest advice and information on all things parenting.

Enter your email address to sign up or manage your account.

Facebook icon Twitter icon Follow Us on Pinterest

editor’s picks

highlights

3 Fun Thanksgiving Games for Kids
Looking for some great Thanksgiving games to play with your kids? Print our free Pin the Feathers on the Turkey game, Pin the Hat on the Pilgrim game, and Thanksgiving Parade Bingo game for loads of laughs this Turkey Day!

Kindergarten Readiness App Wins Gold
Our Kindergarten Readiness app won the Gold Award of Excellence in the educational category at the 2014 Communicator Awards. This valuable checklist comes with games and activities to help your child practice the essential skills she needs for kindergarten. Download the Kindergarten Readiness app today!

8 Surprising Sources of Caffeine in Kids' Foods
Even low doses of caffeine can have an effect on your child's health. Since the FDA doesn't require caffeine content on food labels, learn about hidden sources of caffeine in kids' diets.

Find Today's Newest & Best Children's Books!
Looking for newly released books for your child? Try our new Book Finder tool to search for new books by age, type, and theme, and create reading lists for kids!