https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2 By: Zihao Luo en-us 2016-04-04 20:30:49 UTC 2025-11-16 15:59:32 UTC hello@padlet.com https://padlet-assets.storage.googleapis.com/portrait/earth.jpg jacky_luo1995 https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010521 1: the most surprising thing i learn about this topic is that, international trade can increase and lower a country's economy.

2:the topic of how international trade affects a product's price is particularly interesting to me because i've all way wonder why are some product's price are so ridiculously expensive such as black truffle which is a type of fungus that cost around $2000/3pound. which is due to supply and demand. where there is a short of supply and a very high of demand.

3: a interesting fact that i found during my research is that companies took advantage of currency exchange rate and can produce 10times the produce with the same amount of money in other countries.]]> 2016-04-04 20:46:08 UTC https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010521 jacky_luo1995 https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010526 The following image demonstrates the relationship between production capital and product's price, production capital and product's price is directly proportional, and product's price to quality is inversely proportional.]]> 2016-04-04 20:46:10 UTC https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010526 jacky_luo1995 https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010532 International trade only exist because of money, companies and government are trying their best to spent less and earn more.]]> 2016-04-04 20:46:12 UTC https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010532 jacky_luo1995 https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010535 This picture below shows the international trade cycle, how goods/products are produced in one country ( for a lower price) and sold in another country for a higher price due to high demand.]]> 2016-04-04 20:46:13 UTC https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010535 jacky_luo1995 https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010541 This following article talks about how international trade affect the economy and product prices, international trade is producing goods/services through other countries for a cheaper price which is known as outsourcing, outsourcing would decrease job opportunity in one country and increase in another country which will lower the economy and result in a cheaper product price.]]> 2016-04-04 20:46:15 UTC https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010541 jacky_luo1995 https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010542 This article demonstrates how currencies from different countries affects the Trade. as supply and demand are high companies are seeking for a better and cheaper way to produce their goods and produces. outsourcing is the cheapest way because other country such as china, India and Vietnam have a very low currency exchange rate, which means it would cost a lot less to produce the same amount of products/goods.]]> 2016-04-04 20:46:16 UTC https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010542 jacky_luo1995 https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010544 The following website explains what is international trade, and the efficiency of trading globally. international trade is the change of goods and services between countries, which rise a world economy in prices, supply and demand.]]> 2016-04-04 20:46:17 UTC https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010544 jacky_luo1995 https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010559 In the following video, it demonstrates the relationship of  how international trade affects product's price in a mathematical way, that product's price is directly proportional to manufacture capital cost, as manufacture capital cost increases the product's price will increase as well.]]> 2016-04-04 20:46:23 UTC https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010559 jacky_luo1995 https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010565 The following video explains about global trade system in the 21st century, how companies split the production of goods and services among many countries that reduce overall costs, for example a car company may have a tire production line in china and a steering wheel production line in Africa due to price difference in all countries.]]> 2016-04-04 20:46:24 UTC https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010565 jacky_luo1995 https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010567 The following video will demonstrate the relationship between factor price and internal trade. for example in order to produce a pair of shoes, it require a lot of labour and a little capital, and let's take labour wages into consideration, lets say Canada have a minimum wages of $12.50 per hour and china have a minimum waves $5 per hour, large shoes company such as Nike would choose to build a production line in china over Canada. and the product take less capital to produce, most likely it will be cheaper.]]> 2016-04-04 20:46:26 UTC https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010567 jacky_luo1995 https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010574 In the presentation we will be looking at how product's price are affected by international trade and what are the factors that was taken into consideration.]]> 2016-04-04 20:46:27 UTC https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010574 jacky_luo1995 https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010579 2016-04-04 20:46:29 UTC https://padlet.com/jacky_luo1995/ZihaoLuo_Assignment2/wish/104010579