
Unit 2 ESP231
Flashcard
•
English
•
University
•
Practice Problem
•
Easy
Linh Nguyễn
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30 questions
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1.
FLASHCARD QUESTION
Front
The purchase, sale or exchange of goods and services across national borders is call _______________
Back
International trade
2.
FLASHCARD QUESTION
Front
A trade theory which holds that a government can improve the economic well-being of the country by encouraging exports and stifling imports to accumulate wealth in the form of precious metals is __________
Back
Mercantilism
3.
FLASHCARD QUESTION
Front
_____________is the condition that results when the value of a nation's exports is greater than the value of its imports.
Back
Trade surplus
4.
FLASHCARD QUESTION
Front
A condition that results when the value of a country's imports is greater than the value of its exports is______________
Back
Trade deficit
5.
FLASHCARD QUESTION
Front
Sending goods to another country for sale or trade is called ____________
Back
Exporting
6.
FLASHCARD QUESTION
Front
A trade theory which holds that nations can increase their economic well-being by specialising in goods that they can produce more efficiently than anyone else is called________________
Back
Theory of absolute advantage
7.
FLASHCARD QUESTION
Front
Bringing in goods from another country for sale or trade is called____________
Back
Importing
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