00:01
Japan primarily exports manufactured goods while importing raw materials such as food and oil, analyze the impact on japan's terms of trade of the following events.
00:12
A war in the middle east disrupts oil supply.
00:14
If the oil supply is disrupted due to a war in the middle east, then this will lead to a fallen japan's term of trade.
00:20
The world relative supply would rise, which would be represented by an outward shift of the curve.
00:26
Korea develops the ability to produce automobiles that it can sell in canada and the united states.
00:32
If korea develops the ability to produce automobiles that it can sell in canada and the united states, then in such a situation, the world relative price would fall and there comes a rise in the world relative supply.
00:45
Japan's terms of trade falls.
00:48
Us engineers develop a fusion reactor that replaces fossil fuel electricity plants.
00:52
If us engineers developed a fusion reactor that replaces fossil fuel electricity plants, then will cause the world relative demand and price to rise...