Why+Nations+Trade?

= VOCABULARY =

= = ||
 * = Word = || = Spanish Equivalent = || = English Meaning = ||
 * = Expertise = || == Habilidad == || ==great skill or knowledge in a particular field.== ||
 * = Surplus = || = Excedente = || =an amount left over when requirements have been met= ||
 * = Encourage = || = Incrementar = || =give support, confidence, or hope to= ||
 * = Raise = || = Elevar = || =lift or move to a higher position or level= ||
 * = Labour = || = Mano de Obra = || =workers, especially manual workers, collectively= ||
 * = Benefit = || = Ventaja = || =an advantage or profit gained from something= ||
 * = Decline = || = Decrecer = || =become smaller, fewer, or less; decrease= ||
 * = Retaliate = || = Tomar represalias = || =make an attack in return for a similar attack= ||
 * = Prevent = || = Prevenir = || =keep from happening or arising= ||
 * = Restrict = || = Restringir = || =put a limit on; keep under control= ||
 * = Customs = || = Aduana = || =the official department that administers and collects the duties levied by a government on imported goods= ||
 * = Delay = || = Demorar = || =become or cause to become late or slow=

= ACTIVITY = = = = = = = = = Advantages: = = = = Disadvantages: = =
 * 1) Find three (3) reasons given in the text for why nations trade.
 * Nations trade because they are different, and they need products that other nation can produce better than them.
 * International trade permit to nations to obtain more variety of goods and service than if they will be in autarky.
 * The principle of comparative advantage permit to nations creates a surplus of any product, and other nations create a surplus in other product, and both nations can consume more of both products, by specialization.
 * 1) What are some of the advantage and disadvantages of protectionism?
 * //Infant industries //: When a firm is becoming to get bigger, producing innovations, It can survive if the government implement tariff or quotas to products that are competition whit the product to the infant industry, and late, this industry can be more strong like the others in the international market.
 * //Balance of payments //. Imports tend to create a deficit in the balance of payment.
 * //Strategic industries //: some industries have a good and competitively inside the country. Those industries tend to be in manufactured of essential goods, and they could be protected.