1. The relation between trade and world output: Trade output is affected by world output, in a supply and demand type of relationship. If the world output is low in any given year, then the trade output will be low as well. In times of economic recession, or catastrophe for that matter, people will not purchase as many products as they would if comfortable about their financial and personal future. Also, if in times of recession, …
showed first 75 words of 296 total

showed last 75 words of 296 total
…obtain could include, rice, coffee, and other foods such as bananas, mangoes, papayas, and other tropical fruits. We might also, for at least a while, lose such products as electronics, appliances, and even clothing. According to Osio International, an import company, 90% of U.S. clothing is imported from other countries. (www.osiopack.com, 2005) Wild, John., Wild, Kenneth., Han, Jerry. International Business. 2nd Ed. (2003). Pearson Prentice Hall. http://www.osiopack.com/gpage11.html, Retrieved 4-1-05