International trade have big effects on domestic markets. For both import and an export good ( an other words, address each bulleted item below twice - one for import and one for export) . Describe how opening up an international trade affects the following;

• supply and demand for a particular good

• the competitiveness of that goods market, and

• how the change in competitiveness affects equilibrium price and quantity.

Answer rating: 100% (QA)

Import Supply and Demand for a particular good Supply Opening up international trade for imports inc... View the full answer