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Abstract

Simultaneous exports and imports of a single good constitute two-way trade for a nation. The quantitative importance of this type of trade pattern is prima facie evidence of the inadequacy of the orthodox body of theory to provide a realistic framework for analysis of modern patterns of international trade. This chapter will show how two-way trade can take place between a nation and its trading partners and will identify the main characteristics of the trading nations that will give rise to two-way trade.

Keywords

Demand Curve Intermediate Good Factor Price Domestic Currency Supply Elasticity 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© H. Peter Gray 1976

Authors and Affiliations

  • H. Peter Gray
    • 1
  1. 1.Belle MeadUSA

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