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Economics

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Term1/5

The existence of an international division of labor among countries enables those countries to have what

Definition1/5

Specialized production

Term1/5

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

Definition1/5

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

Term1/5

Why has globalization led to an increasing income gap between rich and poor countries

Definition1/5

Countries with well-established infrastructure and productive capacities have more competitive industries.

Term1/5

How might a country respond to a trade embargo

Definition1/5

It could pursue a policy of national self-sufficiency.

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Under what conditions does a nation have an absolute advantage in the production of a product

Definition1/5

When a nation can use fewer resources to produce the same amount of a product, it has an absolute advantage in the production of that product.

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Cards in this guide (5)

The existence of an international division of labor among countries enables those countries to have what

Specialized production

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 has globalization led to an increasing income gap between rich and poor countries

Countries with well-established infrastructure and productive capacities have more competitive industries.

How might a country respond to a trade embargo

It could pursue a policy of national self-sufficiency.

Under what conditions does a nation have an absolute advantage in the production of a product

When a nation can use fewer resources to produce the same amount of a product, it has an absolute advantage in the production of that product.

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Economics

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Economics

The existence of an international division of labor among countries enables those countries to have what

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

Why has globalization led to an increasing income gap between rich and poor countries

How might a country respond to a trade embargo

Economics

The existence of an international division of labor among countries enables those countries to have what

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

Why has globalization led to an increasing income gap between rich and poor countries

How might a country respond to a trade embargo

Economics

The existence of an international division of labor among countries enables those countries to have what

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

Why has globalization led to an increasing income gap between rich and poor countries

How might a country respond to a trade embargo

Economics

The existence of an international division of labor among countries enables those countries to have what

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

Why has globalization led to an increasing income gap between rich and poor countries

How might a country respond to a trade embargo

Economics

The existence of an international division of labor among countries enables those countries to have what

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

Why has globalization led to an increasing income gap between rich and poor countries

How might a country respond to a trade embargo

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