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What is tHe ability of countries to sPecialize in the production of certain goods is limited by the existence of what?
trade barriers :)
What was the Production Budget for Trade?
The Production Budget for Trade was $12,000,000.
What was the Production Budget for World Trade Center?
The Production Budget for World Trade Center was $65,000,000.
What has the author Empire Marketing Board written?
Empire Marketing Board. has written: 'Production and Trade of Australia' 'Production and Trade of Southern Rhodesia' 'Production and Trade of British Malaya'
What is the production of trade and trade of goods?
It's economy
What was the purpose of the craft guild in the middle ages?
Craft guilds evolved in medieval Europe as a means to ensure quality of work, means of production, and working conditions for skilled laborers in various trades. In order to become a member of a craft guild, one had to first complete a successful apprenticeship. In some ways, craft guilds can be considered a predecessor to modern labor unions.
The role of trade associations in trade?
1)Trade assosiations is also known as guilds. 2)guilds are very powerful. 3)they trained the crafts people. 4)they maintain the control over production 5)they regulated competition and prices 6)they restricted the entry of new people into their trade.........
What two major inventions led to the globalization of production and world trade?
Railroads and steamships led to the globalization of production and world trade. Production was further aided by the assembly line.
Why money is not considered as factor as production?
Money is not a factor of production in economics because it is used as a way to facilitate trade, but does not actually produce goods or services on its own. Money is not considered a factor of production because it cannot be made into a good or service. It can only purchase them. Money facilitates trade, but it is not in itself a productive resource. A factor of production is an input to the production process, such as capital. Money is not capital as economists define capital, because it is not a productive resource.
What is monopoly and how price and output decisions taken under monopoly?
Monopolistic competition refers to the the exclusive possession or control of the supply or trade in a commodity or service.
What does it mean when an economist says that a consumer has a demand for a good or service?
When an economist says that a consumer has a demand for a good service, it means that this consumer has a willingness to pay for that good or service. This means the consumer: 1) achieves a certain level of utility (happiness) from the good or service; 2) will trade-off some of their other production, represented as income, for that good in certain amounts. Demand is generally represented in two forms: 1) a demand schedule, which lists the quantity demanded at varying price levels and is mathematically discrete; 2) a demand function, which is the same as a demand schedule but is a 'curve' on a graph, being continuous.
What does monopoly of trade mean?
a fur trade monopoly is the control over fur
