1、Lesson 1 1. International trade: can be defined as the exchange of goods and services produced in one country with those produced in another. 2. International specialization: one country producing more of a commodity than it uses itself and selling the remainder to other count
2、ries. 3. The theory of comparative advantage: holds that even if a country is less efficient than another in the production of both commodities, i.e. it has absolute disadvantage in producing both commodities, there is still a basis for mutually beneficial trade. 4.国际专业化：inter
3、national specialization 绝对利益：absolute advantage 比较利益：comparative advantage 5. rich in advantage over point on across borders 6.Translation: (1) 在复杂的经济世界中，没有一个国家可以完全自给自足。 In the complex economic world, no country can be completely self- sufficient. (2) 随着制造业和技术的发展，出现了另一
4、个刺激贸易的因素，即国际专业化。 With the development of manufacturing and technology, there arose another incentive for trade, i.e. international specialization. (3) 按照比较利益学说，两个贸易伙伴均可从贸易中得到好处。 According to the theory of comparative advantage, both trade partners can benefit from trade. (
5、4) 比较利益并不是一个静止的概念，一个国家可以通过自己的行动发展某种特定的比较利益。 Comparative advantage is not a static concept; a country may develop a particular comparative advantage through its own actions. (5) 比较利益理论已成为现代国际贸易思想的基石。 The idea of comparative advantage has become the cornerstone of modern think
6、ing on international trade. Lesson 2 1. Economies of scale: that is, the cost advantages of large-scale production. 2. Tariff barriers: are the most common form of trade restriction. 3. A tariff: is a tax levied on a commodity when it crosses the boundary of a customs area
7、 which usually coincides with the area of a country. 4. A customs union: a customs area extending beyond national boundaries to include two or more independent nations is called a customs union. 5. Import duties: are tariffs levied on goods entering an area. 6. Export duties
