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Explain the following as it relates to International Trade (SHORT ANSWER) Protectionism Economy Goods Imports Comparative Advantage Subsidy Import Quota Free Trade Globalization Trade Deficit

Explain the following as it relates to International Trade (SHORT ANSWER)

Protectionism

Economy

Goods

Imports

Comparative Advantage

Subsidy

Import Quota

Free Trade

Globalization

Trade Deficit

Absolute advantage

Efficiency

National Competitive Advantage

Factor Proportion Theory

Mercantilism

Developing Nations

Trade Sanctions

Outsourcing

Exports

World Trade Organization (WTO)

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