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Economics

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Jonathan Block

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3y ago
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Cards in this guide (13)
How does the WTO promote global free trade

By creating multilnational trade agreements

MULTILATERAL... not multinational.

Why does globalization lead to a reduction in wages in developed countries

Increased mobility allows producers to move jobs to lower-cost labor markets.

Why does reducing trade barriers promote increased international trade

Free trade leads to lower prices and greater sales.

What makes a credit card more convenient than a debit card

It can be used to buy things without immediate payment.

A boycott would not be successful under what circumstance

If most consumers didn't stay away from the company that was being protested against, a boycott would not be successful.

Economics is about the production of goods and services which requires the allocation of what

Resources

Which of these helps you avoid debt by keeping your expenses below your income

A personal budget

What is a socialist country in which the government owns health care and communications

The Socialist Republic of Vietnam.

Which of these can be used to protect consumers from unsafe products

A recall

Does globalization cause poverty

Globalization does not cause poverty, on the other hand, globalization lifted many people out of poverty and created a solid middle class in many developing countries. India and China are example. Globalization may have caused financial hardship for many westerners since many jobs were shipped overseas because of cheap labor.

Why don't developing countries usally benefit from free trade policies

Many developing countries do not benefit from free trade policies, because their industries are to weak to compete in the international market.

What have been negative effects of globalization

Higher prices for consumers

Why do central banks play an important role in a global economy

they control the foreign currency reserves that are used for international trade

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