International economics

International economics

International trade theories, policies, finances and their effects on economic activities.

Industry: Economy

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International economics

Grey area measure

Economy; International economics

A policy or practise whose conformity with existing rules in unclear, such as a VER under the GATT prior to the WTO.

Greater Arab Free Trade Area

Economy; International economics

A pact by members of the Arab League aimed at establishing a free trade area.

An amount of money that just compensates a person, group, or whole economy, for the welfare effects of a change in the economy, thus providing a monetary measure of that change in welfare. Same as ...

Compensation

Economy; International economics

1. The GATT principle that members who violate GATT rules must compensate other countries by lowering tariffs or making other concessions, or be subject to retaliation. 2. The actual or potential ...

Competitive

Economy; International economics

1. Applied to a market or industry, this usually means perfectly competitive. Contrasts with imperfectly competitive. 2. Applied to a firm or the products of a country, this usually means having low ...