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What are the advantages and limitations of International Trade identified in the simulation?
An advantage is that the United States is economically tied to all the nations of the world. It appears that we (US) make the choice whether to trade with or have tariffs with other countries or not. It could be an advantage to have tariffs because we would be making money off of import, making it less competitive with others goods.

This tariff could also be a limitation for us. It causes higher consumer prices and higher revenues. To trade internationally means, we get more resources and products to choose from. It means that we can hire at cheaper wages and not worry about certain restrictions. It seems that the world is most effective when each country specialize in goods in which there is really no competition with, such as cheese, corn, watches and DVD players.

When having a comparative advantage over the other countries may be able to export its goods faster than others,......

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Approximate Word Count: 457
Approximate Pages: 2 (250 words per double-spaced page)

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