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Reasons for trade - introduction

flags.jpgDid you know that?

  • The total value of world trade in 2010 was $16 trillion; that's over $30 million a minute.
  • World trade expanded an average 6 percent yearly between 1990 and 2008

On the following pages we consider the following topics in detail:

  • Reasons for trade
  • Theory of absolute and comparative advantage
  • The World Trade Organisation