Real World Economics

International trade depends on the flow of goods and services between countries: imports and exports. Manufacturers export consumer products such as clothing, household appliances, and automobiles. Imports and exports include huge items, such as passenger jets, or basic, vital products, such as pharmaceuticals. Nations also trade in services, such as financial, tourism, education, and legal services. This book introduces readers to the wide world of imports and exports and its perpetual movement of goods and services across the globe. The various mechanisms and controls that either promote or discourage international trade are clearly explained, including tariffs, quotas, export restraints, embargoes, subsidies, and fair trade agreements. The long and rich history of international trade is thoughtfully reviewed. “Myths and Facts” and “10 Great Questions to Ask an Economics Teacher” round out this accessible and highly engaging examination of the trading that makes the world’s goods and services go ‘round and ‘round.