Economic motivations underlying international trade
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2. Address the economic motivations underlying international trade. Under what circumstances would two countries have no incentives to trade?
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Solution Summary
The solution explains motivations for international trade, but also give six reasons why there might be no trade between certain economies. It is referenced to three articles which could be of further use.
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Trade involves a profit motive and when there are price differences between two countries for the same goods or services, trade will occur. Any costs of trading across a barrier (import/export fees, tariffs, taxes) will be included in the price of goods or services to determine if the profit motive is sufficient. ...
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