Ideas about international trade and payments, including comparative advantage, purchasing power parity and the balance of payments. A concept belongs here when its cited article describes a tool of international economics. The group brings together the entries filed under the heading Trade and Payments Concepts, so a reader can compare them and move from one to another within the same part of the economic field. Each entry in the group links to its own article with its sources and related entries.
All Trade and Payments Concepts
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Comparative advantage (Wikipedia)
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Comparative advantage is an economic principle that explains why people, firms, and countries can often benefit from trade even when one party is more productive at producing every good or service.
Purchasing power parity (Wikipedia)
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Purchasing power parity (PPP) is a measure of the price of specific goods in different countries and is used to compare the absolute purchasing power of the countries' currencies.
Balance of payments (Wikipedia)
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In international economics, the balance of payments (also known as balance of international payments and abbreviated BOP or BoP) of a country is the difference between all money flowing into the country in a particular period of time (e.g., a quarter or a year) and the outflow of money to the rest of the world.
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