Answer:
The idea of Social Contract Theory
Explanation:
The Social Contract Theory was addressed by several philosophers, but the one who stated that people can resist and remove rulers who violate their purposes it was John Locke. Locke was against the idea that a ruler should have absolute power over decisions related to the well-being of the people. But he agreed that it was necessary to have an impartial power of judgment that was beyond the citizens. In general, however, the Social Contract Theory indicates a class of theories that try to explain the paths that lead people to form States and/or maintain the social order.
1. Embargo - An official ban or trade or other commercial activity with a particular country.
2. Tariff - Tax on imports.
3. Economic growth - The ability of the economy to increase the production of goods and services.
4. Specialization - Workers concentrate on producing those goods and services for which they have a competitive advantage.
5. Currency exchange rate - The price of one country's currency expressed in terms of another country's currency.
6. Quota - Limitation on imports.
7. Voluntary free trade - An ideal feature of a global economy; it is when each party involved in a trade expects to gain from the trade.
8. Trade barriers - Restrictions placed on trade, for example tariffs and quotas.
