Why+nations+Trade


 * Why Nations Trade**

I have no expertise in sewing/sewing expertise. She has considerable expertise in French history. || We are unlikely to produce any surplus this year. The government has authorized the army to sell its surplus weapons. || The council is encouraging the development of the property for both employment and recreation. || He raised the window and leaned out. Mary Quant was the first fashion designer to raise hemlines. || manual labour (= hard work using the hands ) || One of the many benefits of foreign travel is learning how to cope with the unexpected. He's had the benefit of an expensive education and yet he continues to work as a waiter. I didn't get/derive (much) benefit from school. With the benefit of hindsight (= Helped by the knowledge since learned )  it is easy for us to see where we went wrong. || The party's popularity has declined in the opinion polls. formal; The land declines sharply away from the house. || The demonstrators threw rocks at the police, who retaliated by firing blanks into the crowd. <span class="eg parentof__eg__is__examp">The terrorists retaliated against the government with a bomb attack. || [ + -ing verb ] <span class="eg parentof__eg__is__examp">His disability prevents him (from) driving. || <span class="eg parentof__eg__is__examp">measures to restrict the sale of alcohol <span class="eg parentof__eg__is__examp">The government has restricted freedom of movement into and out of the country. <span class="eg parentof__eg__is__examp">Having small children really restricts your social life. || <span class="eg parentof__eg__is__examp">My plane was delayed by an hour. <span class="eg parentof__eg__is__examp">Could we delay the meeting a few days? [ + -ing verb ] <span class="eg parentof__eg__is__examp">I think we should delay deciding about this until next year. • [ T ] <span class="def parentof__def__is__sense_b">to cause someone or something to be slow or late <span class="eg parentof__eg__is__examp">I was delayed by traffic. • [ I ] <span class="def parentof__def__is__sense_b">to not act quickly or immediately <span class="eg parentof__eg__is__examp">If you delay now, the opportunity might be lost. ||
 * **Word** || **Spanish Equivalent** || **English Meaning** ||
 * Expertise || Habilidad || <span class="eg parentof__eg__is__examp">We admired the expertise with which he prepared the meal.
 * Surplus || Superavit || <span class="eg parentof__eg__is__examp">The world is now producing large food surpluses.
 * Encourage || Estimular || <span class="eg parentof__eg__is__examp">We were encouraged to learn foreign languages at school.
 * Raise || Aumentar || <span class="eg parentof__eg__is__examp">Would all those in favour please raise their hands?
 * Labour || Mano de Obra || <span class="eg parentof__eg__is__examp">The car parts themselves are not expensive, it's the labour that costs the money.
 * Benefit || Beneficio || <span class="eg parentof__eg__is__examp">The discovery of oil brought many benefits to the town.
 * Decline || Disminucion || <span class="eg parentof__eg__is__examp">His interest in the project declined after his wife died.
 * Retaliate || Vengarse || <span class="eg parentof__eg__is__examp">If someone insults you, don't retaliate as it only makes the situation worse.
 * Prevent || Prevenir || <span class="eg parentof__eg__is__examp">Label your suitcases to prevent confusion.
 * Restrict || Restricciones || <span class="def parentof__def__is__sense_b">To limit the movements or actions of someone, or to limit something and reduce its size or prevent it from increasing
 * Customs || Aduana || <span class="def parentof__def__is__sense_b">A person whose job is to look inside travellers' bags to make certain they are not taking goods into a country without paying taxes ||
 * Delay || Retraso || [ I <span class="grams parentof__grams__is__sense_b"> or T ] <span class="def parentof__def__is__sense_b">to make something happen at a later time than originally planned or expected
 * 1. Find three (3) reasons given in the text for why nations trade.**

A nation trades because it lacks the raw materials, climate, specialist labour, capital or technology needed to manufacture a particular good. Trade allows a greater variety of goods and services.


 * 2. What are some of the advantage and disadvantages of protectionism?**


 * Protectionism **

** Advantages of Protectionism **

Protectionism occurs when one country reduces the level of its imports because of:


 * Infant industries. If sunrise firms producing new-technology goods ( eg computers) are to survive against established foreign producers then temporary tariffs or quotas may be needed.
 * Unfair competition. Foreign firms may receive subsidies or other government benefits. They may be dumping (selling goods abroad at below cost price to capture a market).
 * Balance of payments. Reducing imports improves the balance of trade.
 * Strategic industries. To protect the manufacture of essential goods.
 * Declining industries. To protect declining industries from creating further structural unemployment

** Disadvantages of Protectionism **
 * Prevents countries enjoying the full benefits of international specialization and trade.
 * Invites retaliation from foreign governments
 * Protects inefficient home industries from foreign competition. Consumers pay more for inferior produce.


 * 3. What is a tariff and what is a quota? Use the specialist dictionary for the definition.**

<span class="def parentof__def__is__sense_b">**Tariff:** Is a charge or list of charges either for services or on goods entering a country. <span class="def parentof__def__is__sense_b">**Quota:** Is a fixed, limited amount or number that is officially allowed.


 * What are the effects of tariffs and quotas on trade?**


 * Effects of the Tariffs:**

· raises revenue for the government.
 * raises the price of the import
 * reduces the demand for imports;
 * encourages demand for home-produced substitutes;


 * Effects of the Quotas:**


 * raises the price of imports.
 * reduces the volume of imports.
 * encourages demand for domestically made substitutes.


 * 4. What other protection techniques are mentioned in the text?**


 * Other protection techniques:**


 * Administrative practices can discriminate against imports through customs delays or setting specifications met by domestic, but not foreign, producers.
 * Exchange controls (currency restrictions) prevent domestic residents from acquiring sufficient foreign currency to pay for imports


 * 5. Are these protectionist techniques seen in Venezuela?**

I thing that some of this protectionist techniques that I am mention if applied in Venezuela because Venezuela is a big importer.