Autarky is the characteristic of self-sufficiency, usually applied to societies, communities, states, and their economic systems.. Autarky as an ideal or method has been embraced by a wide range of political ideologies and movements, especially left-wing ideologies like African socialism, mutualism, war communism, communalism, swadeshi, syndicalism (especially anarcho …

In an economic model, agents have a comparative advantage over others in producing a particular good if they can produce that good at a lower relative opportunity cost or autarky price, i.e. at a lower relative marginal cost prior to trade. Comparative advantage describes the economic reality of the work gains from trade for individuals, firms, or nations, which arise from …

For example, the Ricardian model of trade, which incorporates differences in technologies between countries, concludes that everyone benefits from trade, whereas the Heckscher-Ohlin model, which incorporates endowment differences, concludes that there will be winners and losers from trade. ... In autarky, it took forty-eight worker hours to ...

An example is a repayment mortgage on a house, ... Autarky. The idea that a country should be self-sufficient and not take part in international trade. The experience of countries that have ...

In international economics, the balance of payments (also known as balance of international payments and abbreviated BOP or BoP) of a country is the difference between all money flowing into the country in a particular period of time (e.g., a quarter or a year) and the outflow of money to the rest of the world.These financial transactions are made by individuals, firms and …

Import substitution industrialization (ISI) is a trade and economic policy that advocates replacing foreign imports with domestic production. It is based on the premise that a country should attempt to reduce its foreign dependency through the local production of industrialized products. The term primarily refers to 20th-century development economics policies, but it has …

float definition: 1. to stay on the surface of a liquid and not sink: 2. to (cause to) move easily through, or along…. Learn more.

depressed definition: 1. unhappy and without hope: 2. not having enough money, jobs, or business activity: 3. unhappy…. Learn more.

fiscal definition: 1. connected with (public) money: 2. connected with (public) money: 3. relating to public money…. Learn more.

Geopolitics (from Greek γῆ gê "earth, land" and πολιτική politikḗ "politics") is the study of the effects of Earth's geography (human and physical) on politics and international relations. While geopolitics usually refers to countries and relations between them, it may also focus on two other kinds of states: de facto independent states with limited international recognition and ...