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Which of the terms refers to the situation that results when a country imports more goods than it exports?
The situation where a country imports more goods than it exports is referred to as a "trade deficit." This occurs when the value of imports exceeds the value of exports over a specific period. A trade deficit can affect a country's economy by impacting its currency value and influencing domestic production and consumption patterns.
Is the making buying and selling of goods and services within a country?
Yes, the making, buying, and selling of goods and services within a country is referred to as domestic trade or internal trade. It involves transactions that occur among businesses and consumers within the country's borders. This type of trade is crucial for a country's economy, as it contributes to the overall production, consumption, and distribution of resources.
Could international trade allow a country to consume beyond its current production possibilities curve?
Yes, international trade can enable a country to consume beyond its current production possibilities curve (PPC). By specializing in the production of goods and services where it has a comparative advantage, a country can trade for other goods that it produces less efficiently. This exchange allows countries to enjoy a greater variety and quantity of goods than they could produce on their own, effectively shifting consumption beyond the limits set by their PPC. Thus, trade expands economic opportunities and improves overall welfare.
How would trading posts affect Crusoe's consumption-possibilities frontier?
Trading posts were used as a set place where people could go to trade goods and services.below or to the left of the production possibilities frontier20 trading postsAttainable
What factors affect the comparative advantage in trade?
biggest advantage of international trade shall be available to the participating countries only if trade is free and unfettered. It strongly affect prices, wages, employment and production in other countries.
Which of the terms refers to the situation that results when a country imports more goods than it exports?
The situation where a country imports more goods than it exports is referred to as a "trade deficit." This occurs when the value of imports exceeds the value of exports over a specific period. A trade deficit can affect a country's economy by impacting its currency value and influencing domestic production and consumption patterns.
Is the making buying and selling of goods and services within a country?
Yes, the making, buying, and selling of goods and services within a country is referred to as domestic trade or internal trade. It involves transactions that occur among businesses and consumers within the country's borders. This type of trade is crucial for a country's economy, as it contributes to the overall production, consumption, and distribution of resources.
Could international trade allow a country to consume beyond its current production possibilities curve?
Yes, international trade can enable a country to consume beyond its current production possibilities curve (PPC). By specializing in the production of goods and services where it has a comparative advantage, a country can trade for other goods that it produces less efficiently. This exchange allows countries to enjoy a greater variety and quantity of goods than they could produce on their own, effectively shifting consumption beyond the limits set by their PPC. Thus, trade expands economic opportunities and improves overall welfare.
How would trading posts affect Crusoe's consumption-possibilities frontier?
Trading posts were used as a set place where people could go to trade goods and services.below or to the left of the production possibilities frontier20 trading postsAttainable
What factors affect the comparative advantage in trade?
biggest advantage of international trade shall be available to the participating countries only if trade is free and unfettered. It strongly affect prices, wages, employment and production in other countries.
Fair trade affect the producer?
because they have to grow them in there country they can get very ill
What are goods carried out from countries are called?
Goods carried out from countries are called exports. These are products and commodities that are produced in one country and sold to another country for consumption or trade.
What was the Production Budget for Trade?
The Production Budget for Trade was $12,000,000.
What has the author Olof Georg Jonasson written?
Olof Georg Jonasson has written: 'Atlas of the world commodities: production, trade, and consumption' -- subject(s): Commercial geography
How does the location of the United Kingdom affect how the country trades?
It is near water which is the best place to trade by.
How does a recession in one country affect another?
International trade is affected by recession very much.
How did trade affect European navigation?
how did trade affect european navigation they affect because Asia affect
