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

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

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

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

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

Popis výsledku anglicky

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.

Druh

D - Stať ve sborníku

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

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Návaznosti

S - Specificky vyzkum na vysokych skolach

Rok uplatnění

2016

Kód důvěrnosti údajů

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

Název statě ve sborníku

Globalization and Its Socio-Economic Consequences

ISBN

978-80-8154-191-9

ISSN

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e-ISSN

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Počet stran výsledku

8

Strana od-do

1563-1570

Název nakladatele

ZU - University of Žilina

Místo vydání

Žilina

Místo konání akce

Rajecké Teplice, Slovensko

Datum konání akce

5. 10. 2016

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

000393253800193