Flows of Products Flashcards

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1
Q

How has international movement of products been made easier for developing countries?

A

Reduction in trade cost.
Transaction costs.
Tariffs.
Transport and time costs.

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2
Q

Transaction Costs.

A

They have been reduced by improvements of flows of data and the ease with which capital can be transferred to pay for transactions.

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3
Q

Transport and Time.

A

They have been reduced by process of containerisation which has enables more complex and long distance flows of products.
Air transport speeds delivery and reduces costs of more valuable cargo.

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4
Q

Tariffs.

A

Reduction in tariffs in global trade.

Encouraged by WTO.

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5
Q

Containerisation.

A

System of standardised transport using large steel containers to transport goods.
They may be transferred between ships, trains and lorries.
Cheaper efficient transport.

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6
Q

Tariffs.

A

Tax or duty placed on imported goods with the intention of making them more expensive.
So they don’t sell at lower prices than home-based goods.

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