International Trade and Markets (AQA A-Level Geography): Flashcards
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Practise the cards
10 cards from this deck
Comparative advantage
Comparative advantage
Nations specialise in what they produce most efficiently
WTO role
WTO role
Governs global trade, lowers barriers between countries
Tariff
Tariff
Tax imposed on imported goods
Import quota
Import quota
Physical limits on amount of product that can be imported
World merchandise trade value 2018
World merchandise trade value 2018
$19.48 trillion
Fastest-growing trading region
Fastest-growing trading region
Asia-Pacific
Intra-regional trade
Intra-regional trade
Trade between countries within the same geographical region
Global FDI inflows 2019
Global FDI inflows 2019
$1.39 trillion
Asia-Pacific share of global FDI inflows
Asia-Pacific share of global FDI inflows
40 per cent
North America trade balance pattern
North America trade balance pattern
Runs a trade deficit with all other regions