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☆☆☆☆☆Cards in this guide (8)
What are the positive and negative effects of globalization to hospitality industry
what are the positive and negative effects of globalization to hopitality industry?
What is regressive tax
tax that is an equal amount for everyone and doesn't depend on how much you earn.
Example of absolute advantage
A country has an absolute advantage over another in producing a commodity if it can produce that commodity using fewer resources than the other country. Example, country A can produce widget using one unit of labor, country B can produce one widget using two units of labor, then country A has an absolute advantage over country B in producing widgets.
What is one of the downsides of increasing economic interdependence
loss of control over the national economy.
Which of these is an important factor promoting increased international trade
The reduction of trade barriers
Because costs and benefits are both subjective a persons decision will always be based on what factor
His or her unique values and beliefs
personal opinion
Why the government might enact a price ceiling in order to accomplish what
The government might enact a price ceiling in order to protect the poor.
Who makes decisions in a free market system
In a free market system
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