International Economics
Flashcard
•
Social Studies
•
11th - 12th Grade
•
Hard
Wayground Content
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27 questions
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1.
FLASHCARD QUESTION
Front
the ability of an individual, a firm, or a country to produce more of a good or service than competitors, using the same amount of resources
Back
Absolute Advantage
2.
FLASHCARD QUESTION
Front
NOT argument for free trade: domestic job security, national economic security, infant industries, open competition
Back
open competition
3.
FLASHCARD QUESTION
Front
NOT an argument for free trade: improved products, export industries, specialization & comparative advantage, reduced competition
Back
reduced competition
4.
FLASHCARD QUESTION
Front
What is ASEAN?
Back
Association of Southeast Asian Nations
5.
FLASHCARD QUESTION
Front
A record of all transactions between the residents of a country and the residents of all other countries, over a period of time.
Back
balance of payments
6.
FLASHCARD QUESTION
Front
the difference between a country's total exports and total imports
Back
Balance of Trade
7.
FLASHCARD QUESTION
Front
The ability of an individual, firm, or country to produce a good or service at a lower opportunity cost than other producers.
Back
Comparative Advantage
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