The institutionalization of trade has been around since the "value theory" of David Ricardo in 1817, which argues that some countries had more feasible conditions to produce a better output of certain products in comparison to others. As a result, they had to engage in trade with other countries that had products they lacked.
"Labor" and "resources" are the key factors that fuel trade. As some countries have a cheaper labor force, it makes their products have competitive prices in the market. On the other hand, certain countries have scarce resources that many other countries do not have such as gold and other minerals. Therefore they have to engage in trade with the countries that extract them from their soil.
This act was hated by the business industry because it was a general trade embargo on all foreign nations that was enacted by the United States Congress. ... During the Napoleonic Wars, rival nations Britain and France targeted neutral American shipping as a means to disrupt the trade of the other nation.
According to John B. Gordon, a Southern point of view regarding the power of states under the <span>Constitution was that state sovereignty was more important than federal power. </span>
Answer:
Buy expensive machinery. Buy seeds and supplies at low cost. Negotiate with railroads and shipping companies.
B. geographical boundaries created in earlier historical periods
