International Competitiveness Flashcards
1
Q
What is international competitiveness?
A
International competitiveness refers to how well a country’s products compete in international markets
2
Q
How can international competitiveness be measured?
A
Relative unit labour costs
Relative export prices
3
Q
What are the factors that affect international trade?
A
Relative unit labour costs
Relative wages & non-wage costs
Relative rate of inflation
Relative level of regulation
4
Q
What are the benefits of international competition?
A
Export-led growth
Unemployment
Current account surplus
Increased overseas foreign direct investment
Standards of living improve
5
Q
What are the problems with international uncompetitive?
A
Government policies
