International Trade and Economic Growth
Discuss whether or not increased international trade can promote economic growth.
International Trade and Exchange Rates
STEPS TO WRITE ESSAY 💡MAIN POINTS💡OVERVIEW
A. Definition of international trade
B. Importance of economic growth
C. Thesis statement
II. Reasons why increased international trade can promote economic growth
A. Increase in the size of the market for domestically produced goods
B. Firms can specialize and achieve economies of scale
C. Increase in competitive pressure/making firms more efficient
D. Increase in access to products not available domestically
III. Reasons why increased international trade may not promote economic growth
A. Increase in the amount of imports, decrease in total demand of the economy
B. Domestic firms may not be able to compete causing less revenue, less profits, more unemployment
C. May result in shortages of goods in the domestic market
D. Make the economy more subject to sudden changes in demand and supply
A. Restate thesis statement
B. Summary of main points
C. Final thoughts and recommendations.
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