Theories
Global Factors of Production
Trade Barriers
Commercial Policies
Export Support Systems
100
A country that specializes in the production of a product that can produce relatively better, or more efficiently, than other countries.
What is comparative advantage?
100
Used to produce goods and services that meet the needs and wants of consumers world wide.
What are the global factors of production?
100
Limitations on trade.
What are trade barriers?
100
Regulations that countries use to control international trade.
What are commercial policies?
100
Monies that support exporting indirectly.
What is indirect export subsidies?
200
When a country can produce more units of a product at a lower cost using fewer resources than other countries.
What is absolute advantage?
200
Land forests, minerals, oils, and bodies of water.
What are natural resources?
200
A country produces rice, so it doesn't allow other countries to sell rice there.
What are trade barriers?
200
A tax on imported or exported goods.
What is a tariff?
200
A website provides links to export related programs.
What is export.gov?
300
Displays the trade offs in prodcution between two products.
What is a production possibility curve?
300
Natural resources, human resources, and capital resources.
What are the three resources of global factors of production?
300
Dispute for setting trade barriers based on the idea that a country does not want to become dependent on other countries for goods.
What is the national security argument?
300
The ban of trade on a certain country.
What is an embargo?
300
China's government pays to export rice.
What are export subsidies?
400
Value of what is given up in producing one product when another product is produced.
What is opportinity costs?
400
Workers, management, and entrepreneurs.
What are human resources?
400
The idea that developing industries in a country needs time to become globally competitive.
What is the infant industry argument?
400
Restricitions on the amount of a product that can be imported into a country.
What is quota?
400
A service that helps businesses goods and services from the U.S. to around the world.
What is U.S. Commercial Service?
500
Raw material or agricultural product.
What is commodity?
500
Buildings, machinery, and funds.
What are capital resources?
500
The U.S. decides to cease recieving imports from South America.
What is a trade barrier?
500
A country's particular port only allows export ships; other countries must use a different port to import goods.
What is a non-tariff barrier?
500
Payments made by governments to support the export of products.
What is export subsidies?
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