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What Kinds of Changes Would You Expect to See in the Short

question 55

Essay

What kinds of changes would you expect to see in the short term, if the main employers in a CBD were to relocate to another city? What long-term changes would follow if alternative employers do not replace those who have departed?


Definitions:

Trade Restrictions

Government-imposed limitations on the free exchange of goods and services between countries.

Unilaterally

Acting or done by one side alone without agreement or consultation with others.

Free Trade

An economic policy that allows imports and exports between countries with minimal or no tariffs, quotas, or prohibitions.

Comparative Advantage

The ability of an individual or country to produce a particular good or service at a lower marginal cost than others.

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