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When U.S. firms choose to hire skilled and unskilled workers in other countries to produce goods and services rather than producing them in the US we refer to this as?
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What is a countries way to produce goods and services?
exxhibit
A system for producing and distributing goods and services?
The system of producing goods and services is called an economy. This system uses humans to produce and sell the goods. When the people have no say in what will be produced or how, this is called a command economy.
Why do countries differ in their capacities to produce different goods and services?
Due to there capabilities by there natural resources and labor.
Why do nations specialize in certain goods and services?
Because countries have different natural, human, and capital resources and different ways of combining these resources, they are not equally efficient at producing the goods and services that their residents demand. The decision to produce any good or service has an opportunity cost, which is the amount of another good or service that might otherwise have been produced. Given a choice of producing one good or another, it is more efficient to produce the good with the lower opportunity cost, using the increased production of that good to trade for the good with the higher opportunity cost.
The circular flow of economic activity is characterized by?
How people produce (make money) and consume (spend money).
What is an organized set of procedures that a nation follows in producing and distributing good and services?
The trade agreements are the procedures a nation follows. They work amongst states and countries. It tells you how things get done and how they produce goods and services.
What is a countries way to produce goods and services?
exxhibit
A system for producing and distributing goods and services?
The system of producing goods and services is called an economy. This system uses humans to produce and sell the goods. When the people have no say in what will be produced or how, this is called a command economy.
What does oil come from?
There are several countries that produce oil. Some of the oil producing countries are America, Saudi Arabia, Mexico, Canada, and Nigeria.
How do nations benefit from producing goods and services they have a comparative advantage in supplying?
They benefit by using the money they earn to buy goods and services they cannot produce as efficiently.
What are the top ten countries that produce sodium chloride?
The top salt-producing countries are the US, Britain, Russia, Germany, France, India and China.
Is a fern seed producing or spore producing?
Ferns produce spores. They do not produce seeds.
What countries produce the most tea?
China produces 28% of the world's tea Germany
What are the some countries that produce oil?
the top 5 oil producing countries are... 1. Russia 2. Saudi Arabia 3. US 4. Iran 5. China
Why do countries differ in their capacities to produce different goods and services?
Due to there capabilities by there natural resources and labor.
What factor prevents all countries in the Persian gulf from producing desalinized water?
some countries can not afford to desalinized water
What countries produce the most coal?
China is the biggest coal producing country. But the USA also has the most Deposits and reserves!
