THE INFLUENCE OF GLOBALIZATION ON INTERNATIONAL TRADE IN THE CONTEXT OF MAXIMIZING CONSUMER SURPLUS AND PRODUCER SURPLUS

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F49777513%3A23510%2F16%3A43930183" target="_blank" >RIV/49777513:23510/16:43930183 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

THE INFLUENCE OF GLOBALIZATION ON INTERNATIONAL TRADE IN THE CONTEXT OF MAXIMIZING CONSUMER SURPLUS AND PRODUCER SURPLUS

Original language description

One of the basic principles of economics is the recognition that the mutual trade and specialization can make everyone better off. International trade realised on the principle of absolute and comparative advantages increases the economic prosperity of national economies because the gains of the winners exceed the losses of the losers regardless of whether or not the economy is exporting or importing. A comparison of the gains and losses from trade shows the theoretical possibility of compensation for the losers by those who gained. In practice, compensation from international trade is rare. For this reason, opening up a market to international trade is an act that raises the economic welfare of some to the detriment of others. The reactions to the loss of welfare of one of the involved parties are obstacles to international trade, for example in the form of tariffs and quotas. When analyzing the economic welfare of buyers and sellers on the market, economists often use two tools: the consumer surplus and producer surplus. This paper is an assessment of how the process of globalization in relation with an increased competition affects the growth or decline in consumer surplus and producer surplus and in which way globalization can reduce and strengthen trade restrictions.

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

AH - Economics

OECD FORD branch

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Project

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Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2016

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

Globalization and Its Socio-Economic Consequences

ISBN

978-80-8154-191-9

ISSN

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e-ISSN

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Number of pages

8

Pages from-to

1563-1570

Publisher name

ZU - University of Žilina

Place of publication

Žilina

Event location

Rajecké Teplice, Slovensko

Event date

Oct 5, 2016

Type of event by nationality

WRD - Celosvětová akce

UT code for WoS article

000393253800193