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Chapter 19: Q 26. (page 462)

In World Trade Organization meetings, what do

you think low-income countries lobby for?

Short Answer

Expert verified

Low-income countries lobby might lobby for fewer trade barriers

Step by step solution

01

Step 1. Definition

Lobbying is a venture/effort by individuals or interest groups to impact the decisions of government. Lobbying is predetermined in any political system.

02

Step 2. Explanation

This is so because if they have fewer trade barriers then they would get more trade and in turn, make a profit for themselves and their people.

Low-income countries benefit more from the decision of fewer trade barriers than their counterparts that are high-income countries because low-income countries do have not a big internal market from where they make gains. Moreover, smaller economies often have fewer competitive firms making goods within their economy.

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Most popular questions from this chapter

What are the two main sources of economic gains

from intra-industry trade?

Do consumers benefit from intra-industry trade?

Under what conditions does comparative advantage

lead to gains from trade?

If the removal of trade barriers is so beneficial to international economic growth, why would a nation continue to restrict trade on some imported or exported products?

In France it takes one worker to produce one sweater, and one worker to produce one bottle of wine. In Tunisia it takes two workers to produce one sweater, and three workers to produce one bottle of wine. Who has the absolute advantage in production of sweaters? Who has the absolute advantage in the production of wine? How can you tell?
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