Mercantalism - Study guides, Class notes & Summaries

classical trade theories - ANSWER1. mercantilism 2. absolute advantage principle 3. comparative advantage principle 4. factor proportions theory 5. international product cycle theory mercantalism - ANSWER-int. trade perspective in 1500's -ideal situation is to run a trade surplus (export>import) -neo-mercantilism: labor unions (protect jobs), farmers (keep prices high) absolute advantage principle - ANSWER-country only benifits by producing products in which it has an absolute ad...

Includes all materials on lecture slides, professor spoken notes, notes on all assigned readings, and discussion notes.

List of key terms and ideas from Unit 4 of World History (Maritime Empires). Includes definition and significance

bus357 wk2a1 1 .docx BUS357 Free Trade and Government Regulations University of Arizona Global Campus BUS357 International Business As opposed to Mercantilism or Neomercantalism, Free Trade does not require one country to benefit over the other. Instead, the concept leaves the path of communication open and allows both countries to experience a surplus. While free trade does not always cause an excess for both countries, it is better to have the option - rather than to no...

AP US History Class Notes