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Trade-offs from Trade

3 page
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English (U.S.)
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Essay Guidelines

Paper #1

The research and application papers, are to be original works over material recently discussed in class. Outside material, such as the textbook, articles, news reports, quotes, etc., may be used as references to supplement the paper, and must be cited. Keep references from the text to a minimum. 

Minimum 3 pages – Maximum 4 pages – PLUS Title Page and a Citations Page:

Typed, each paper is to be 3 – 4 pages, double spaced.  This does not include the citations page.  If you include outside work, provide references, sources of data, etc., on a separate page, a “Citations Page” - the citations page is in addition to the 3 – 4 pages of your paper. 

Run a word count on your essay.  A four - page essay, double spaced, might contain anywhere from 1,000 to 1,400 words.  Your essay should contain a minimum of 850 words. 

From the syllabus:

ACADEMIC INTEGRITY:   “…Academic integrity is to be maintained at all times to insure genuine educational growth.  Cheating and plagiarism in all forms, therefore, will be subject to disciplinary action.  Serious infractions will be reviewed by an ad hoc committee, appointed by the appropriate dean. Appropriate sanctions will be imposed.”

PLAGIARISM: Plagiarism-the appropriation or imitation of the language or ideas of another person and presenting them as one’s original work-sometimes occurs through carelessness or ignorance. Students who are uncertain about proper documentation of sources should consult their instructors.

Tips for the papers ---

·         Run a spell-check on your paper. (Points off for spelling errors.) 

·         3 to 4 pages refers to a minimum of 3 complete pages – one sentence on a page does not make the grade. 

·         Read it aloud to someone – does your listener understand the points you are making?

·         Personal experiences may be used – SPARINGLY! - keep it limited.  Focus on the topic as it applies to economics and business in general

 Paper #1  Trade-offs/Gains from Trade   

·       Possible discussion points:  Why people/nations trade; opportunity costs; absolute/comparative advantage; Adam Smith – “The Invisible Hand” 


Trade-offs/Gains from Trade

Student's Name


Course Name/Number


Due Date Trade-offs/Gains from Trade

No particular economy can produce all products and services it requires to survive. Every economy generates some products in excess and experiences a deficit in others. Trade is the primary factor useful in maintaining economic stability through selling surplus and buying deficit products (Federico & Tena-Junguito, 2017). Countries engage in international trade to maximize their earnings from resource utilization through effective specialization and division of labor realized by careful evaluation of comparative advantages and opportunity costs.

Why do people/nations trade

            Nations trade with each other if they do not have sufficient resources and capacity required to meet their needs and wants. Additionally, countries endowed with surplus resources exploit and develop such domestic resources to create surplus products which they trade with other countries for the resources they require. International marketing is fundamental in the global economy since it enables the development and prosperity of the modern industrialized world. According to Mankiw (2021), traders import products...


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