Xeco 212 International Trade Simulation

Topics: International trade, International economics, Economics Pages: 3 (1138 words) Published: October 1, 2011
The international simulation report is a compilation of the findings and outlines that reflect advantages and limitations of international trade as a whole. In reviewing the international trade simulation we can find that there are four distinct points that represent the elements that make up the report. I will be reviewing each point in depth along with providing a compare and contrast of the influences and advantages. I will finally conclude with a discussion that sheds light on the issues surrounding the international trade report and provide a summery. We know that all countries depend on international trade for some aspect of survival. Different countries and nations have fluctuating production levels of goods and services that they are able to produce. The other notable difference of each country is the amount that they will charge for the price of a good or service. These kinds of assets tend to fluctuate greatly from place to place. We see that countries will utilize and even manipulate their own goods and services in order to make them a resource that is considered an asset so that they can resource it out as needed for profit. If a country is able to maintain minimal costs for a resource, a nation will export these assets with a low cost of production price and then turn around and import additional assets of higher value. (Hubbard & O’Brien, 2010). Enforcement needs to be in place for trading to guarantee the laws are followed and enforced. We see that international trade has both advantages and disadvantages. Most countries try to work within these limitations to ensure a profitable trade. The objective of profit can be met if a country works within its fiscal budget to develop fair and equitable trade with amongst other nations.

There is a wide range of advantages associated with the international trading of goods and services. There is emphasis placed on the future and looking at potential future trade and...
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