Microeconomics

Learn the toughest concepts covered in Microeconomics with step-by-step video tutorials and practice problems by world-class tutors

International Trade

Exporting and Importing

Next Topic

This lesson will be very IMPORTant... ha... ha...

1

concept

Autarky

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4m
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2

concept

High World Price:Export

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9m
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3

concept

Low World Price:Import

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6m
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Problem

A nation practicing autarky has a domestic price of extremely tight pants that is lower than the world price. If the nation opened up trade,