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What is the definition of domestic trade?

domestic trade is the one which takes place within a country.It is free to move around factors of production like land, labor, capital and labor capital and entrepreneurship from one state to another within the same country


During which phase in the process must a firm alloctors its factors of production?

A firm allocates its factors of production during the planning phase of the production process. This phase involves determining how to best utilize resources like land, labor, capital, and entrepreneurship to achieve production goals. Effective allocation is crucial for maximizing efficiency and achieving desired outputs. Once the allocation is decided, the firm can move on to the implementation and operational phases.


What type of resource is not an economic factor of production?

Money, political resources, and infrastructure are not considered economic factors of production. Money is considered to be a factor used in trade, mostly. Money is used to trade or sell or buy something and for production to move as well. It can be a huge factor that contribute to production but it mostly envelopes the trade industry.


What are consequences of the increasing integration of the global economy?

Globalization links all countries in one way or another. It is therefore true that a breakdown in production or service delivery in one country may negatively impact the global economy. Insecurity is also an issue of global concern since people move from one country to another frequently.


What causes a production possibilities to move to the right to the left?

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