My view on international trade is that it is a very good thing to have for every country. With international trade countries are able to get everything that they need in exchange for goods that they have in excess. My opinion changed only a little and it helped me to look at international trade even better. This chapter made it easier for me to see how it is cheaper for different countries to make a certain good and they can find another country that needs that good for some of theirs.
Sunday, June 7, 2015
Chapter 3 Reflection
The concept that surprised me the most in chapter three was thinking about how a country must balance the goods they produce to make balance between the many goods and not to make to many or too few. However this is where trade could step in and help them acquire good that they couldn't produce or that was too expensive for them to produce.
My view on international trade is that it is a very good thing to have for every country. With international trade countries are able to get everything that they need in exchange for goods that they have in excess. My opinion changed only a little and it helped me to look at international trade even better. This chapter made it easier for me to see how it is cheaper for different countries to make a certain good and they can find another country that needs that good for some of theirs.
A recent purchase that I made that was mostly made overseas were beadlock wheels for my jeep. There are a few that are produced in the U.S. but they tend to be a lot pricier and didn't come in the designs that I wanted. The wheels that I ended up buying are from a company in Colorado but most of the material comes from China. There were not many trade offs to buying a beadlock made in the U.S. other than the price as well as the design that I wanted to complete my jeep.
My view on international trade is that it is a very good thing to have for every country. With international trade countries are able to get everything that they need in exchange for goods that they have in excess. My opinion changed only a little and it helped me to look at international trade even better. This chapter made it easier for me to see how it is cheaper for different countries to make a certain good and they can find another country that needs that good for some of theirs.
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