Sanctions & Economic Warfare — Glossary

A situation where a country can produce a good or service more efficiently than another country, using fewer resources.

An economic principle stating that countries benefit by specializing in producing goods where they have a lower opportunity cost than others, enabling efficient trade.

An economic and political theory that explains global inequality as a result of historical exploitation and structural dependence of developing countries on developed ones.

A condition where countries are mutually reliant on each other for goods, services, and capital, affecting their political relations.

Actions by states or entities to bypass or undermine international [Economic Sanctions](https://modeldiplomat.com/learn/glossary/economic-sanctions) imposed by other countries or organizations.

The automatic reinstatement of previously lifted [Economic Sanctions](https://modeldiplomat.com/learn/glossary/economic-sanctions) when a party violates an international agreement. It serves as a mechanism to enforce compliance.

A set of proposals by developing countries in the 1970s to promote their interests through reforming global economic relations.

The responsiveness of the quantity supplied of a good to changes in its price in international markets.

Initiatives funded by the [World Bank](https://modeldiplomat.com/learn/glossary/world-bank) aimed at reducing poverty and promoting economic development in low-income countries.

A legal process resolving trade disputes between member countries to enforce WTO agreements.