(所谓商业贸易实质上只是使生产成本更为便宜的一种手段培训教材.pptVIP

A Rational Terms of Trade and the Respective Gains If, for example, by higgling or bargaining of the market, 10 yards of cloth exchange for 17 yards of linen, England will gain an advantage of 2 yards on every 15, Germany will save 3 out of every 20. The problem is, what are the causes that determine that proportion 10C/17L in which the cloth of England and the linen of Germany will exchange for each other. International Exchange Ratio Gains of trade of England: 2 more L acquired for exporting 10 C Gains of trade of Germany: 3 L saved for importing 10 C. The problem is, what are the causes that determine that proportion 10C/17L in which the cloth of England and the linen of Germany will exchange for each other. Reciprocal Demand Determines Terms of Trade How the law of demand and supply, in other word reciprocal demand, determines the terms of trade and thus the distribution of possible total gains from trade between the two participants could be illustrated by the following hypothetical reciprocal demand table. From this table we could have a graphic presentation of how the reciprocal demand equilibrate international market. Hypothetical Reciprocal Demand R Germany England Dgc or Mgc Sgl or Xgl Sec or Xec Del or Mel 10C :15L 20000 30000 0 0 10C:16L 13000 20800 6000 9600 10C:17L 10000 17000 10000 17000 10C:18L 8000 14400 11000 19800 10C:19L 4000 7600 13000 24700 10C:20L 0 0 16000 32000 Reciprocal Demand of Germany and England on Good C and Good F From the above table and figure it would be obviously to see that only when 10 units of cloth could exchange for 17 units of linen in international market does Germany’s willingness of offering of linen exactly equals the amount required by England at this rate. Simultaneously, Germany’s willingness of demand on cloth exactly equals the supply of England. That is to say international market of linen and cloth are both cleared at such rate of exchange. In other words, at