International Trade: "Chapter 1: Introductory Trade Issues: History, Institutions, and Legal Framework"

Read this chapter.  While “we are all a part of the economy, we all buy and sell things daily … we cannot observe all parts and aspects of an economy at any one time.” This chapter endeavors to describe policy issues, controversies, the discussions and the history of international trade. You will learn terms, such as international economics,  FTAs, GATT, WTO, anti-subsidy laws, and bound vs. applied tariffs.

You will read about real-world issues such as “implementing policies that restrict trade” and “forging agreements to reduce trade barriers.” Test your knowledge of the reading by answering some of the "Jeopardy Questions” in the exercises below each section.