Written by the Fiveable Content Team • Last updated August 2025
Verified for the 2027 exam
Verified for the 2027 exam•Written by the Fiveable Content Team • Last updated August 2025
Definition
The equilibrium price of a good in the international market; determines whether a country will export or import and affects domestic consumer and producer surplus.
AP course connection
Topic 2.9: 2.9 International Trade and Public Policy