Role of Technology in International Trade

Topics: General Agreement on Tariffs and Trade, Economics, International trade Pages: 2 (272 words) Published: January 22, 2013

The Role of Technology in the Theory of International

"Technology" refers to the way in which resources are converted into commodities. This is such a basic feature of an economic model, whether of a closed or open economy, that any discussion of the "role" of technology in the theory of trade must be arbitrarily incomplete. In what follows I have tried to cast the net widely and deal with several aspects of technology in the theory of international trade.

Technology is the making, modification, usage, and knowledge of tools, machines, techniques, crafts, systems, methods of organization, in order to solve a problem, improve a preexisting solution to a problem, achieve a goal, handle an applied input/output relation or perform a specific function. It can also refer to the collection of such tools, machinery, modifications, arrangements and procedures. -------------------------------------------------

Technology has affected society and its surroundings in a number of ways. In many societies, technology has helped develop more advanced economies (including today's global economy) and has allowed the rise of a leisure class. 1) -------------------------------------------------

What is the big role of technology these days?
2) -------------------------------------------------
How the technology will affect positively on the international trade? 3) -------------------------------------------------
Did the technology opened world market only to the large companies? 4) -------------------------------------------------
Why we see a relation between companies and even competitors? 5)...
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