Economics

The world bank lends money to memeber nation so that they could be carry out the work of public importance and usefulness.

Speculators from rushing into and out of a country's market and disrupting its economy./

Environmental-protection laws can be bad for the economy because they may increase unemployment.

To help countries achieve sustainable development

Specialized production

Environmental-protection regulations increase compliance costs and decrease economic competitiveness.

Flexible expenses vary over time.

Rationing

International Trade

It could pursue a policy of national self-sufficiency.

Type your answer here... High tariffs

Some northern states made slavery against the law.

Think that you're country A, wanting to buy pen and paper.

Country B produces 1 million pen and 1 BILLION paper

Country C produces 1 BILLION pen and 1 million paper

Or, country B has the absolute advantage over production of paper while

country C has the absolute advantage over production of pen.

Coming back our theory of economy of scale, we know that to a certain point, increased production would lead to lower average cost and thus, lower price.

This would mean that paper from country B is cheaper than country C whereas pen from country C is cheaper than country B.

Therefore, you would choose to trade paper with country B while trading pen with country C.

And this is why it is important to making economic choices.

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

higher prices