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non-price competition

Market situation in which competitors would not lower prices for fear of a price war. Instead they focus on extensive promotions to highlight the distinctive benefits or features of their products. Non price competition is an anomaly in a free market systems based on price-quantity relationship.

Definition of 'Nontariff Barrier

A form of restrictive trade where barriers to trade are set up and take a form other than a tariff. Nontariff barriers include quotas, levies, embargoes, sanctions and other restrictions, and are frequently used by large and developed economies

Trade facilitation

Trade facilitation looks at how procedures and controls governing the movement of goods across national borders can be improved to reduce associated cost burdens and maximise efficiency while safeguarding legitimate regulatory objectives

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Free Trade Agreement, used to refer to that signed in 1988 between the US and Canad

(FTAs) refer to agreements that aim to liberalize trade among certain countries and regions by removing customs on traded goods and restrictions on foreign investment among the countries and regions included within any given agreement.

Transfer income

Transfer income is an income transferred by an assessee to

other person, inorder to avoid tax.(Ex: Bond washing

transactions)

Currency depreciation

A decline in the value of one currency relative to another currency. Depreciation occurs when, because of a change in exchange rates, a unit of one currency buys fewer units of another currency. A decrease in the value of a currency with respect to other currencies. This means that the depreciated currency is worth fewer units of some other currency

theory of comparative advantage

In economics, the law of comparative...