Regulation

Provide examples of how states regulate the economy?

Why do some believe that the regulation of monopolies and cartels is an important role for the state?

Why do some disagree?

Trade

q States influence the degree of competition and access to goods within their own country by determining what foreign goods and services may enter the domestic market.

o Tariffs –

o Quotas –

o Nontariff Barriers –

Why do states regulate trade?

Comparative Advantage –