Ch3: Global Economy

Front

Trade partners are countries that trade products with one another.

Back

True

Front

If a country has low literacy levels, little to no technology and focuses on agriculture or mining, that country is considered to be:

Back

Less-Developed

Front

Silk is a product created by what type of resource?

Back

Land

Front

Gross Domestic Product (GDP)

Back

The measure of the output of products created within a country.

Front

When a country can create products at a lower cost than other countries, this is a(n) _________________ advantage.

Back

absolute

Front

If a country has improving educational systems, increasing technology and expanding industries, that country is considered to be:

Back

Developing

Front

What is the making, buying, and selling of products within a country?

Back

Domestic business

Front

A telephone is an example of a

Back

Good

Front

A customer service representative is a product created by what type of resource?

Back

Labor

Front

_______________ refers to a world economy with movement of products and labor across international borders.

Back

Global economy